EU Greenlights ArcelorMittal, thyssenkrupp Decarbonization Funding
07/20/2023 - The European Commission has signed off on EUR2.85 billion in state aid that will go to decarbonization efforts at thyssenkrupp and ArcelorMittal.
The funding consists of a EUR550 million grant to thyssenkrupp, along with a conditional payment of up to EUR1.45 billion. The funding will support a direct reduction plant and two melting units.
Under a separate package, ArcelorMittal is set to receive EUR850 million. It intends to build a direct reduction plant and two electric arc furnaces in France.
You can read more here.
