Thyssenkrupp to Invest Nearly EUR1 Billion as Part of Duisburg Decarbonization Plan
26 Julho 2023 - 2:32PM
Dow Jones News
By Pierre Bertrand
Thyssenkrupp said that it will invest just short of 1 billion
euros ($1.11 billion) at its Duisburg location in Germany as the
country's Vice-Chancellor, Robert Habeck, confirmed Wednesday
around EUR2 billion in government aid.
The funds will go toward building new facilities that will
enable it to replace natural gas from its operations with hydrogen
and reduce carbon emissions, the German steelmaker said in a
statement.
The commissioning of the new facilities is expected to start
toward the end of 2026, with operations scheduled as early as 2029,
the company said.
The European Commission, the executive arm of the European
Union, green lit the German government's plan last week to dedicate
funds to the Thyssenkrupp project.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
July 26, 2023 13:17 ET (17:17 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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