U.S. Steel Košice will receive €300m grant to decarbonize steel production
The Environment Ministry allocated €317m from the Recovery Facility to three companies for green investments. U.S. Steel Košice will receive €300m to decarbonize steel production by installing electric furnaces. The Danucem cement plant will get €8.4m to decarbonize cement production, and Wienerberger €8.4m to decarbonize brick production. Through these projects, Slovakia will cut emissions by 3m tons of CO2 per year by 2026, which is 20% of the total emissions of the Slovak industrial and energy sectors. (forbes.sk)
The steel mill estimates the total investment in electric furnaces at €1.3bn. The allocated subsidy may not be enough and U.S. Steel will "carefully consider the potential investment." It also expects a subsidy from the Modernization Fund and needs a guarantee of competitive electricity prices.
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