9,312.13 TRY BIST 100 BIST 100
43.91 EUR EUR EUR
38.20 USD USD USD
5.25 CNY CNY CNY
0.12 CNY CNY/EUR CNY/EUR
46.74 TRY Interest Interest
66.21 USD Fossil Oil Fossil Oil
41.10 USD Silver Silver
488.00 USD Copper Copper
100.29 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,091.06 TRY Gold (gr) Gold (gr)

European Commission approves state support for Stahl-Holding-Saar decarbonisation

The European Commission has approved €2.6 billion ($2.8 billion) in German state aid to Stahl-Holding-Saar (SHS) for the transition to low-emission steel production.

European Commission approves state support for Stahl-Holding-Saar decarbonisation

Sheet producer Dillinger Hütte and SBQ producer Saarstahl, both part of SHS, started planning earlier this year for the construction of a direct reduction plant and two electric arc furnaces at their sites in Dillingen and Völklingen. The companies already operate two blast furnaces and five basic oxygen converters.

The natural gas initially used in the new DRI plant will be phased out from the steelmaking processes. Ultimately, the new plant will operate predominantly using low-carbon and renewable hydrogen.

SHS plans to organise a competitive tender process to select renewable hydrogen suppliers. The Commission states that the successful bidders will install electrolysers in the vicinity of SHS's plants, thus initiating the development of a renewable hydrogen value chain in the Saarland region. At a later stage, SHS hopes to be connected to the German hydrogen network and thus gain access to hydrogen in larger and cheaper volumes.

The company aims to produce up to 3.5 million tonnes of green steel per year from 2027/2028. The public funding announced for the projected investments of around EUR 3.5 billion is very important, SHS said earlier this month.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Global crude steel production increased by 2.9% in March

Thursday, April 24, 2025

Full support for import duty from the Indian Steel Association

Tuesday, April 22, 2025

Italy's steel production increased by 6% in March

Thursday, April 17, 2025

Ferrexpo's record post-war production

Friday, April 18, 2025

Tosyalı to invest TRY 378 Million in solar power plant in Ankara

Tuesday, April 15, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now