Germany's Thyssenkrupp is preparing to seek EU approval for a €2 billion (TRY2.3 billion) German state subsidy to build a new steel plant in Duisburg, sources with direct knowledge of the matter said on Tuesday.
The European Commission's decision could be made on Thursday or as early as next week, but the deadline could be extended as the competition rules regulator continues to finalise the document, the sources said.
As the European Union tries to catch up in the race for green technology and counter huge aid from the United States and China, companies in Europe are applying to governments for huge subsidies to build green manufacturing plants.
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