Thyssenkrupp, for example, will initially receive €550 million for the construction of a reduced iron plant and two electric arc furnaces to replace the existing blast furnace at the Duisburg steel plant. Commissioning of these plants is planned for 2026.
Within 10 years of the commissioning of these plants, the company will receive up to €1.45 billion to cover the additional costs associated with the establishment of "green" hydrogen production and the gradual replacement of natural gas with iron reduction. This process should be completed in 2037.
In return, ArcelorMittal will receive a subsidy of €850 million from the French government to rebuild the Dunkirk steelworks in the north-west of the country. The company will replace two blast furnaces and two converters with two or three electric arc furnaces and build a reduced iron plant. As with the German Thyssenkrupp project, a gradual transition from natural gas to "green" hydrogen is envisaged.
The construction of the new facilities at the Dunkirk plant is also scheduled to be completed in 2026.
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