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Netherlands allocates €3 billion in green subsidies to Tata Steel IJmuiden

11 Jun 2024 17:22 reported by Stanley Wang

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The Dutch parliament has approved EUR 3 billion in environmental subsidies for Tata Steel Ijmuiden, a major steel plant in Europe. The funds will be used to modernize the plant and reduce its environmental impact, addressing concerns about emissions from outdated blast furnace technology.

The move aims to make the steel industry more sustainable in the Netherlands. Tata Steel plans to invest its own funds alongside government support to align with European environmental standards. The modernization may lead to changes in the city of Ijmuiden, including potential job losses and new opportunities.

Despite past controversies over emissions, Tata Steel welcomes the support from parliament to improve sustainability. The company intends to invest in its "Green Steel" project, with a portion of the funds earmarked for European operations, including the Ijmuiden plant.

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