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Home Steel News ThyssenKrupp urges German government to speed up steel subsidies
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ThyssenKrupp urges German government to speed up steel subsidies

15 May 2023 13:22 reported by Judy Lin

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According to a report, Thyssenkrupp, a German steel manufacturer, has urged the German government to approve hundreds of millions in subsidies for a landmark carbon-neutral steel site. Germany's economy minister in 2022 mentioned the support for Thyssenkrupp's new plant.

The plant of direct reduction and associated infrastructure in Duisburg costs big as the factory alone costs €1.8 billion. ThyssenKrupp could not cover more than €2 billion. ThyssenKrupp already spent €700 million to build the factory in North Rhine-Westphalia, but it asked for more help from the federal government.

The leader of the works council of Thyssenkrupp Steel Europe said the authority promised to help Thyssenkrupp decarbonize steel production. He also mentioned the delay in funding would risk Germany's competitiveness.

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