German state plans millions in support for Thyssenkrupp low-carbon steel plant - WAZ
Reuters
Published Sep 14, 2022 15:47
BERLIN (Reuters) - The German state of North Rhine Westphalia will provide steelmaker Thyssenkrupp (ETR:TKAG) with hundreds of millions of euros for the steelmaker's transition towards lower carbon output, the WAZ newspaper reported on Wednesday.
The support will amount to at least a mid-range three-digit million-euro sum, which will go towards co-financing a planned direct reduction plant in Duisburg, the report said, citing state economy minister Mona Neubaur.
On Thursday, Thyssenkrupp said it had green-lit investments for a direct reduction plant that would cost more than 2 billion euros ($2.00 billion) to build and help the group produce low-carbon steel.
($1 = 1.0024 euros)
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Written By: Reuters
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