Green steel production: EU Commission approves billions in aid for Saarland
Of the 2.6 billion euros, the federal government is to bear 70 percent and Saarland 30 percent. Federal Economics Minister Robert Habeck (Greens) spoke of "outstanding good news for the industrial transformation in Saarland" and for the employees. The subsidies will be used to replace around two thirds of the existing coal-fired blast furnaces in the Saarland plants. The new steel production facility is scheduled to go into operation in 2027 and will save around four million tons of carbon dioxide annually in the medium term.
The EU Commission justified the release of the funds by stating that the state funding would contribute to the "development of the industry", among other things. After Salzgitter AG and Thyssenkrupp, SHS is the third company to receive extensive aid for the conversion of its steel production.
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Source: www.stern.de
