€470m to emission reduction projects, €300m to U.S. Steel Košice
The Ministries of Environment and Economy granted €470m from the Modernization Fund to emission reduction projects of six companies. U.S. Steel Košice will receive €300m for new electric furnaces, Duslo Šaľa €58m for the production of green hydrogen, Slovnaft €44m for technology upgrades, Mondi SCP €30m for replacement of natural gas with biogas, Rona €28m for electric furnaces, and Danucem €10m for the decarbonization of cement production. The criterion was the unit price for cutting emissions. The supported projects should reduce industrial emissions by 19%.
Although U.S. Steel has already received €600m in state subsidies for its €1.3bn project to replace coal furnaces with electric ones, it is still considering the investment and looking for investment partners.
