Industry - Stahl-Holding-Saar confident after talks in Berlin
Stahl-Holding-Saar (SHS) is confident that it will receive the green light from Berlin by the end of the year for its planned switch to the production of "green" steel. "The common goal is to bring the project to an end this year in the best case scenario," the company announced on Friday in Dillingen following talks in Berlin the evening before.
"The Federal Ministry of Economics, together with the Saarland state government and ourselves, are on the same page in terms of content," the company said. "The next short-term step will now be notification by the EU Commission. Then the funding decision can be issued."
According to Stahl-Holding-Saar, all parties involved agreed to stick to promoting the transformation of the Saarland steel industry towards the production of CO2-reduced steel and to successfully shape the project together. Saarland Minister of Economic Affairs Jürgen Barke (SPD) also took part in the meeting in Berlin.
At the end of 2022, the steel industry presented a €3.5 billion plan to switch to steel production using hydrogen instead of coal and coke. From 2027, up to 3.5 million tons of low-CO2 steel are to be produced annually in Saarland and 4.9 million tons of CO2 saved - subject to funding commitments of around 60 percent of the investment costs. The steel industry has been waiting months for the funding decision. In view of the federal government's budget crisis, uncertainty prevails.
SHS is an operational management holding company with around 14,000 employees and a turnover of around seven billion euros (2022). As the third largest steel manufacturer in Germany, the companies Saarstahl and Dillinger produce around five million tons of steel per year.
Steel Holding Saar
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- The Federal Ministry of Economics, based in Berlin, has been actively involved in the discussions regarding Stahl-Holding-Saar's switch to green steel production.
- The planned shift to CO2-reduced steel production in the Saarland steel industry has the support of both the Federal Ministry of Economics and the Saarland state government.
- The steel industry in Germany, including prominent players like Stahl-Holding-Saar's subsidiaries Saarstahl and Dillinger, has been eagerly awaiting a funding decision for their €3.5 billion plan in Dillingen.
- Despite the uncertainties surrounding Germany's budget crisis, the Federal Ministry of Economics is working towards securing the necessary funding commitments for the green steel industry changeover in Saarland.
Source: www.stern.de
