Marcegaglia has signed a letter of intent with EDF to supply competitively priced nuclear electricity for a period of at least 10 years to the Marcegaglia steel plant in Fos-sur-Mer, acquired in June last year.

With an investment exceeding €750 million, the project includes an increase in electric furnace production, a continuous casting plant for slabs, and a state-of-the-art hot rolling mill. In the initial phase, production capacity will grow from 150,000 tons to a projected 2.1 million tons per year, with the potential to expand to 2.5 million. Production is expected to begin in mid-2028.

Recognized in France as a project of national interest, this initiative aims to address environmental challenges and foster efficient, sustainable production methods.

The agreement will be finalized this autumn with the signing of the supply contract. “With this letter of intent,” stated Antonio and Emma Marcegaglia, “we are reinforcing our commitment to decarbonization across all Group production. This enables us to use clean, carbon-free, stable, readily available, and competitive electricity. The nuclear option is a key step towards achieving climate neutrality, especially in so-called hard-to-abate sectors like ours.”

The letter was signed in Paris by Antonio Marcegaglia, Chairman of Marcegaglia Steel, and Marc Benayoun, Executive Director for Customers and Regions at EDF, in the presence of Bernard Fontana, Chairman and CEO of EDF.

Marc Ferracci, French Minister for Industry and Energy, welcomed the signing of this “regional project,” stating: “This is a contract for the future that commits future generations and also strengthens our competitiveness.”