The Spanish Government has announced a EUR 60 million grant to Hydnum Steel as part of its Strategic Projects for Economic Recovery (PERTE) to decarbonize the country's industrial sector. The grant will give a significant boost to the construction of the Iberian Peninsula's first clean steel plant in Puertollano.
Managed by the Ministry of Industry, Tourism and Trade and financed by the European Union's Next Generation EU funds, the investment is based on environmental and innovative criteria such as the use of 100% renewable energy, sustainable water management, circular economy principles and advanced digitalization practices.
The initiative has been identified as a Priority Project by the Government of Castilla-La Mancha and as one of the five most important decarbonization projects in the world by the World Economic Forum. The initial production phase of the project is planned to produce 1.5 million tons of steel per year, increasing to 2.6 million tons once the capacity is fully operational. Most of the steel produced will be directed to the automotive, construction and renewable energy sectors.
Hydnum Steel has already secured 75% of its production through agreements with industry leaders such as Thyssenkrupp, Gonvarri and Knauf Interfer. The project is expected to enter the construction phase by the end of 2025, creating more than 1,000 direct and 3,500 indirect jobs.
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