Thyssenkrupp urges lawmakers for clarity on decarbonising steel
DUESSELDORF (Reuters) – Thyssenkrupp, Europe’s second-largest steelmaker, has urged policy-makers to quickly provide the regulatory conditions and support payments needed to decarbonise the sector.
“We are ready to go on the engineering side, but now a few things have to happen,” Thyssenkrupp Steel Europe Chief Executive Bernhard Osburg said at the Handelsblatt hydrogen conference in Essen.
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This includes applications for state subsidies that have been submitted for more than a year, Osburg said. “There are no commitments here yet … If we don’t have them, we won’t be able to invest.”
Thyssenkrupp, which wants to turn its steel production carbon-neutral by 2045, is one of the biggest CO2 polluters in Germany.
Germany’s steel industry as a whole must invest about 30 billion euros ($32 billion) to become climate-neutral by 2050, the government has said, funds it cannot shoulder alone.
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(Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz; editing by David Evans)