For green steel

EU gives voestalpine loan of 300 million euros

The voestalpine headquarters are located in Linz.(Bild: Harald Dostal)

voestalpine is currently investing around EUR 1.5 billion in Linz and Leoben-Donawitz in order to be able to put an electric arc furnace into operation in each case from 2027. The European Investment Bank has now also provided support for decarbonization.

voestalpine is receiving a financial injection of EUR 90 million from the German government's transformation fund, which will go towards the construction of the electric arc furnaces in Linz and Leoben-Donawitz.

Aside from this, the production of green steel is receiving an increasing boost: the European Investment Bank, or EIB for short, is providing the steel group, which operates out of Upper Austria, with a loan of EUR 300 million. The deal runs for four years, i.e. until 2028, and supports research and development in this area.

EUR 1.5 billion will be invested in Linz and Leoben by 2027
voestalpine has set itself the goal of being climate-neutral by 2050. An important step in this process is the conversion from traditional blast furnaces to electric arc furnaces. In a first step, the steel giant is investing EUR 1.5 billion in Linz and Leoben-Donawitz.