ArcelorMittal S.A. (NYSE:MT) Q4 2022 Earnings Call Transcript

So we provide you with that framework, as we embark on these large scale decarb projects in our facility.

Bastian Synagowitz: Thanks. Thanks for detail for that color. Maybe just a very quick follow up on the IRA of your €“ I guess your strategic analog is basically at least on that side unchanged here ahead of the project in France, at least versus the IRA, it is unchanged while offering. Potentially at least the IRA does give you some potential for other projects maybe to also tap those funds. Is there anything which you’re working on and which you have in mind or do you actually see the IRA more as a case where it’s actually going to drive your demand and support it nicely. But you’re not really going to go out there and try to develop the larger scale project to take advantage of that.

Aditya Mittal: Yeah. So, Bastian that’s a good question. So we all see the demand impact. I think that that’s something that has been widely discussed. I mean, there’s always a by American provision and the impact that can that can have and have that in the U.S. steel industry. I would say there is an investment opportunity that is absolutely clear. I think the €“ it depends on it, on those investment opportunities are two-fold. There will be some investment ideas, and that’s where the strategic capital comes into play, which are great on the standalone North American perspective and others, which are global. And I think for that, we have to have clarity on the IRA rules. So the IRA has been, passed as a law, but the actual detail and the rules will be decided the summer of this year.

And I think they, and soon after there would be a similar exercise in Europe. I think post that clarity, you could make the appropriate investment decisions. At this point in time there’s nothing imminent, but clearly something that we are looking at very actively,

Bastian Synagowitz: Okay, perfect. Thank you.

Aditya Mittal: Okay, great. So let’s conclude. Thank you very much, everyone. I think we have covered a lot of ground on the call today. If you need anything more, any more clarifications, please do reach out to Daniel and his team. They are always available. With that, we will conclude the call. Stay safe and keep those around you safe as well. Thank you and all the best.