EU approves German state aid to ArcelorMittal for decarbonisation

By Thomson Reuters Feb 23, 2024 | 8:49 AM

(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)

(Reporting by Bart Meijer)