ArcelorMittal withdraws from 'green steel' plans despite billion-euro subsidies

ArcelorMittal will not transition its German plants in Eisenhüttenstadt and Bremen to produce "green steel," ignoring a billion-euro subsidy initiated by former Minister Robert Habeck.

The company stated, “Die Rahmenbedingungen ermöglichen aus unserer Sicht kein überlebensfähiges Geschäftsmodell.” Without sufficient hydrogen and low electricity prices, the upgrade became impossible. The federal economics ministry expressed regret over the company's decision.

Brandenburg's leaders promised to secure jobs at the site, but concerns for the industry remain high. The German steel sector struggles, with 2024 production at recession levels due to low-cost imports from China.