DGAP-Adhoc: Salzgitter Aktiengesellschaft: Salzgitter AG’s Supervisory Board approves own funds amounting to € 723 million for the realization of the first stage of the SALCOS® transformation program

In its meeting today, Salzgitter AG’s Supervisory Board unanimously approved the Executive Board’s application to make own funds of € 723 million available for the first expansion stage of the SALCOS®-project. The aim of SALCOS® is to fully convert the integrated steelworks in Salzgitter in three stages to low-CO2 crude steel production by 2033. Up to around 95 % of the CO2 emissions amounting to approximately 8 million tons a year will be gradually reduced as a result.

As part of the first expansion stage, an electrolysis, a DRI plant and an electric arc furnace are to be built by the end of 2025. These facilities will enable us to produce 1.9 million tons of low-CO2 crude steel a year, thereby replacing a blast furnace and a converter. To this end, the Supervisory Board today approved own funds amounting to € 723 million, with the commensurate cash effect over the years from 2022 through 2026. Along with our own contribution, we are counting on substantial public funding. The approval and appraisal process for these public funds has not yet been concluded.

For more detailed information, please see the press release on this topic published today.