Insider about positive EU vote
The federal government can probably give Thyssenkrupp billions
06/13/2023 9:57 p.m
In order to make steel production climate-friendly, Thyssenkrupp uses hydrogen as an energy source. The EU Commission must first approve whether Germany can subsidize the project with two billion euros. An insider reveals that the signs are good.
The federal government is expected to fund Thyssenkrupp’s extensive hydrogen project with two billion euros in tax money. In the environment of the Green-led Federal Ministry of Economics, it was said in the evening that there had been progress in the negotiations with the EU Commission on state aid. “The basis for the approval decision is clearly outlined. This also creates the necessary planning security for Thyssenkrupp,” said an insider. The final approval of the Brussels authority, which is intended to prevent excessive market distortions in the course of state aid in Europe, can be expected in the next few weeks.
The Ministry of Economy declined an official statement. Thyssenkrupp initially declined to comment. The EU Commission said it was holding constructive talks with the federal government about the plans. Good progress had recently been made on the key issues of compatibility with the EU treaties and competition. But no decision was made. The aim of the EU Commission is to come to a legally sound decision as quickly as possible. This must put Thyssenkrupp in a position to significantly reduce CO2 emissions without harming the interests of the general public in terms of competition and trade.
IG Metall increases pressure on Habeck
At the end of 2026, Thyssenkrupp wants to commission a plant costing more than two billion euros that can be used to produce climate-friendly steel. While the NRW state government has promised funding of up to 700 million euros, the steelmakers are still waiting for around 1.3 billion from the federal government. The Federal Ministry of Economics recently pointed out that the EU Commission must first give the green light. IG Metall and the steel works council have increased the pressure on Economics Minister Robert Habeck in recent weeks. They fear that the capital side on the supervisory board of Germany’s largest steel company could withdraw its approval for the project. Habeck is expected to attend a demonstration of several thousand steelmakers in Duisburg tomorrow, Wednesday.
In the environment of the Ministry of Economics, it was also said that there was now an agreement with the EU Commission on central parameters for the approval. The Thyssen hydrogen project tkH2steel is intended to help make the industrial group climate-neutral. Experts see it as a showcase project that is intended to demonstrate the future viability of Germany as an industrial location. The EU wants to give strong support to similar hydrogen projects and is therefore setting lower hurdles for state aid in these cases. Salzgitter has already received a grant of one billion euros. The Commission had already given the green light here. Other projects have yet to be approved.