Germany-based steelmaker Salzgitter Group has announced that the European Commission (EC) has approved the company’s application for the funding of the SALCOS® - Salzgitter Low CO2 Steelmaking program.
The state government of Lower Saxony and the German federal government have signed an agreement to share the cost of funding the SALCOS® program, as SteelOrbis previously reported. With the approval of the EC, the governments will contribute up to €700 million and up to €300 million respectively to promote the SALCOS® program. Together with the funds already approved by Salzgitter to the amount of €723 million, this would therefore secure financing for the first development stage of SALCOS® for implementation by the end of 2025.