Published by Global Banking & Finance Review®
Posted on June 20, 2025
1 min readLast updated: January 23, 2026
Add as preferred source on GoogleArcelorMittal cancels plans for carbon-neutral steel in Germany due to high energy costs, missing out on €1.3 billion aid, leaving the economy ministry disappointed.
BERLIN (Reuters) -Germany's economy ministry on Friday expressed regret over ArcelorMittal's decision not to proceed with two key hydrogen steel projects in Germany, foregoing government help amounting to 1.3 billion euros ($1.5 billion).
"It is important to note that no money has yet flowed. This means that no money has to be reclaimed," the ministry said in an emailed statement.
ArcelorMittal said it had dropped plans to convert two plants in Germany to carbon-neutral production because the country's energy costs were too high.
($1 = 0.8687 euros)
(Reporting by Christian Krämer, writing by Thomas Seythal, editing by Friederike Heine)
Germany's economy ministry expressed regret over ArcelorMittal's decision not to proceed with two key hydrogen steel projects in Germany.
ArcelorMittal stated that it dropped plans to convert two plants in Germany to carbon-neutral production due to high energy costs in the country.
The ministry noted that no money has yet flowed, which means that no money has to be reclaimed.
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