Robert Habeck, federal minister for Economic Affairs and Climate Action of Germany, has announced his approval for the funding for the decarbonization project to be implemented by Luxembourg-based steelmaker ArcelorMittal at its Bremen and Eisenhüttenstadt plants.
By securing the approval, the steel giant will now be able to start decarbonizing its steel production in the country.
Accordingly, the ministry will provide about €1.3 billion in funding for the project, under which an electric arc furnace (EAF) and direct reduction iron (DRI) plant at Bremen and two EAFs at the Eisenhüttenstadt plant will be built.
This way, ArcelorMittal will produce over 3.8 million mt of green steel per year in total. The new plants are scheduled to be commissioned from 2026.
The European Commission had greenlighted the funding back in February this year
