US EditionTata Steel gets Dutch backing for €2 billion green transition
- The Dutch government will provide €2 billion for Tata Steel Netherlands' decarbonisation project, with an additional request for €0.3 billion from the EU Innovation Fund.
- Tata Steel Netherlands signed a non-binding Joint Letter of Intent with the Government of the Netherlands to start transitioning to low CO2 steel production.
- Tata Steel Netherlands plans to decommission existing facilities and construct a new Direct Reduced Iron Plant and Electric Arc Furnace, aiming to cut emissions by 5.4 million tons annually.
- CEO TV Narendran thanked the Dutch government for their support and stated that this agreement is a significant first step towards a sustainable future for Tata Steel Netherlands, achieved after extensive discussions over two years.
12 Articles
12 Articles
Tata Steel gets Dutch backing for €2 billion green transition
Tata Steel Netherlands has secured €2 billion in funding from the Dutch government to transition to low-carbon steel production. This follows a £500 million grant from the UK for a similar project, as the company aims to reduce carbon emissions significantly at its IJmuiden plant.
The agreements between Tata Steel and the government don't yet definitively mean the factory will receive the money. Nevertheless, the agreement marks an important step in a difficult negotiation that has dragged on for years.
Dutch govt proposes 2 billion euros support to Tata Steel arm for IJmuiden plant decarbonisation project
The homegrown steel maker and its European arm, Tata Steel Nederland (TSN), have signed a Joint Letter of Intent with the Government of the Netherlands and the Province of North Holland.
Tata Steel signs pact with Dutch government to lower carbon emissions
Tata Steel has signed a non-binding pact with the Dutch government to transition its IJmuiden plant to low-carbon emission steel production. The government intends to provide up to 2 billion euros, with Tata Steel Nederland also seeking 0.3 billion euros from the EU Innovation Fund to clean up the major polluting facility.
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