U.S. Steel is considering a €1.5bn investment, with the alternative being to leave Slovakia
U.S. Steel is considering a €1.5bn investment into its Košice steel mill, with the alternative being to leave Slovakia. It is in talks on state assistance totaling hundreds of millions for its investment into electric arc furnaces to replace two of its current three coal powered blast furnaces, which would save 6m tons of CO2 emissions annually. Finance Minister Igor Matovič (OĽaNO) would not disclose the volume of subsidy he promised from the Recovery Plan and other EU funds. It is even possible that the state would take a stake in the steel mill that would use its capital injection to fund the necessary investments. The Košice steel mill is Slovakia’s largest CO2 emitter and is being hit hard by the rising price of emissions allowances.
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