The Dutch government has agreed to provide €2 billion in support for Tata Steel Netherlands’ (TSN) decarbonisation project.

Additionally, TSN has made an application to the EU Innovation Fund for €0.3 billion. The remaining amount is expected to be funded by a combination of cash generated and contributed by Tata Steel Nederland, as well as debt and funding procured by Tata Steel.

The deal was part of extensive discussions among the Government of the Netherlands, the province of North Holland, Tata Steel, and Tata Steel Nederland.

Non-binding pact signed for transition

The company and the government have agreed on an intended framework for the integrated project in TSN and signed a non-binding Joint Letter of Intent for the first phase of transitioning to low CO2 steel production and i

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