Tata Steel's Green Transition Boosted by €2BN Dutch Funding
Tata Steel has taken a significant step towards greener steelmaking, with the Dutch government providing €2bn in funding. The investment aims to reduce the environmental impact of the company's IJmuiden site, one of the country's largest industrial emitters. Steelmaking accounts for a substantial 7% to 9% of global greenhouse gas emissions, with traditional methods releasing around 1.6 to 2 tonnes of CO2 per tonne of crude steel. The new funding will support Tata Steel's transition to lower-carbon steelmaking at its IJmuiden site. The first phase of the project involves replacing one of the site's two coal-fired plants with natural gas-powered plants, with a view to switching to hydrogen in the future. This follows the official opening of the replacement power plant in August 2024. The company plans to finalise an agreement with the government by 2026, with the first replacement plant scheduled before 2030. Dutch State Secretary for Infrastructure Vivianne Heijnen hailed the funding as 'an important step' in reducing the IJmuiden site's environmental impact. Tata Steel expects the transition to not only support the Netherlands' climate targets but also improve local air quality around the site. The investment is part of a wider package of €4bn to €6.5bn aimed at phasing out coal-fired blast furnaces and exploring cleaner technologies.
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