Overview

• Federal and state grants of €2 billion alongside a €1 billion Thyssenkrupp contribution keep the project firmly funded
• A contingency reserve has been added to the budget to cover potential cost overruns on the direct reduction plant
• Construction orders for the plant exceed €1 billion in combined contracts with engineering partner SMS Group
• Project head Ulrich Greiner Pachter warns that operating expenses pose a greater challenge than construction costs
• Securing sufficient volumes of affordable green hydrogen and managing volatile energy prices are identified as the next critical hurdles