US EditionArcelorMittal Cancels Germany Steel Projects Over High Energy Costs
16 Articles
16 Articles
ArcelorMittal was to become a pioneer in climate-friendly steel production in Germany. Now the project "green steel" was canceled - a severe setback for climate policy and locations.
ArcelorMittal Cancels Germany Steel Projects Over High Energy Costs
ArcelorMittal has abandoned its plans to transform two German plants to hydrogen-based steel production due to high energy costs. This move results in the forfeiture of 1.3 billion euros in government funding. The German economy ministry maintains that no funds were yet disbursed, hence no financial recovery is required.
Due to expensive electricity prices, the steel giant ArcelorMittal cancels the conversion to the production of "green steel" in two German plants.
A group that is called upon to focus on five axes in order to take action to contain electricity prices is being "recruited" by Europe, following a relevant decision that...More...
There should also be money from politics for the climate-neutral conversion of two steelworks, but the manufacturer is withdrawing.
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