state aid

Jingye Group is aiming for a deal similar to the one with Tata Steel

The funding is earmarked for a steel plant in Port Talbot

The program is designed for 2023-2024

This is a €450 million grant for the decarbonization of the Gijon plant

The approval of the financing, according to the source, may take place in the coming weeks

The company expects subsidies from the UK to decarbonize the steel plant in Port Talbot

The company plans to replace two blast furnaces with electric arc furnaces. The total cost of the project exceeds €1 billion

The company needs help in financing the construction of a DRI production plant in Duisburg

The benefits will be attractive to investors in new, developing industries

The company seeks to learn about the details of steel support by July 2023

In the next six months, a working group will search for an investor

The companies' two plants account for 95% of the UK's steel sector emissions.