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EU approves German state aid to ArcelorMittal for decarbonisation

Published 23/02/2024, 14:53
© Reuters. A person walks by the logo of the European Commission near its entrance in Brussels, Belgium, February 1, 2023. REUTERS/Yves Herman/ File photo
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(Reuters) - The EU Commission on Friday said it had approved 1.3 billion euros ($1.41 billion) in German state aid for steel producer ArcelorMittal to help it decarbonise part of its production processes.

The commission said the aid was necessary and appropriate to promote the production of green steel and that its positive effects would outweigh any potential distortion of competition and trade in the EU.

($1 = 0.9234 euros)

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