The German steel company thyssenkrupp is actively negotiating to adjust the financing structure of its new direct restoration plant in Duisburg to reflect the changed economic conditions and allow the company to operate without the use of hydrogen at the initial stage, the Reuters news agency said.
About two thirds of the project's 3 billion euro financing is provided by the German Federal Government and the state of North Rhine-Westphalia. Initially, the financing was related to the use of hydrogen in a direct recovery facility. However, thyssenkrupp currently considers this requirement unrealistic for the initial operation of the plant.
,Discussing changes in financing with Germany and the EU ,
,As a result, the company is negotiating with the German government and the European Union to change the terms of financing and ensure that financial support is still provided, even if hydrogen is not used initially.
,"We are very pleased that we are currently cooperating with the German government and the European Union. The European Commission has approved the planned amendment to the current financing rules and has already confirmed that they fully comply with EU legislation on state aid," said thyssenkrupp Chief Financial Officer Axel Hamann. According to Hamann, the approval will allow the German federal government to implement the amendment and subsequently adjust funding decisions. The revised financing rules will come into force after these changes.
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, ,, Author: Editorial staff of SteelOrbis,
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