BERLIN (dpa-AFX) - To support the transition of steel production to more climate-friendly methods, the company Salzgitter will receive an additional 322 million euros in government funding. This was announced by the Federal Ministry for Economic Affairs in Berlin, following approval from the EU Commission.
Initially, support of around one billion euros had been planned as part of an IPCEI project considered particularly important within the EU, but this was based on the incorrect assumption that further funding would be available from other sources. The current funding gap is now set to be closed.
Salzgitter is to use the funds to convert its steel production from blast furnace technology to methods that include the use of hydrogen, among others. The financing will be covered 70 percent by the federal government and 30 percent by the state of Lower Saxony./hrz/DP/jha
