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Jindal Says EU Subsidies Will Be Crucial in Potential Thyssenkrupp Steel Takeover
Jindal Steel International has said that substantial government support will be essential if it proceeds with a takeover of Thyssenkrupp Steel Europe (TKSE), Germany’s largest steelmaker. The company noted that the European Union’s subsidies for green steel and industrial decarbonisation would play an “important role” in making any acquisition viable.
Thyssenkrupp has been seeking buyers for its steel division as part of a wider restructuring plan. The unit faces mounting financial pressure from high energy costs, strict climate regulations, and the capital-intensive shift toward low-carbon steelmaking. Jindal, which has submitted an indicative offer, said the transformation of TKSE into a competitive green-steel producer would require massive investment in technologies such as hydrogen-based direct reduced iron (DRI) and electric arc furnaces.
The company emphasised that public funding—available under Germany’s climate-transition schemes and EU programmes like the Innovation Fund—is critical to bridging the economic gap in the early stages of decarbonisation. Without such support, the shift from blast-furnace operations to greener processes would be difficult to justify financially.
Talks between Jindal and Thyssenkrupp are ongoing, with no final agreement yet reached. Any deal would likely be subject to regulatory approval and significant commitments around jobs, investment, and emissions-reduction targets.
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