Thyssenkrupp's Green Steel Project Faces Uncertainty Amid Rising Costs

The German conglomerate is re-evaluating its flagship decarbonization initiative due to financial challenges and strategic shifts.

Thyssenkrupp is reconsidering its plan to build a hydrogen-based direct reduction plant in Duisburg, a key part of its green steel transition.
The project, initially supported by €2 billion in state funding, is now projected to exceed its original cost estimates by hundreds of millions.
Internal discussions include the possibility of halting the project, which has been a cornerstone of Thyssenkrupp's climate-neutral ambitions.
The review comes amidst broader financial struggles within the company, including leadership changes and strategic disputes with stakeholders.
Czech investor Daniel Kretinsky, holding a significant stake, is involved in ongoing negotiations that could impact the project's future.