Spanish producer of environmentally friendly steel Hydnum Steel has officially received 60 million euros in the second tender of proposals for line 4 of Spain's Strategic Project for Economic Recovery and Transformation (PERTE) on industrial decarbonization for the planned plant for the production of environmentally friendly steel in Puertollano, according to Spanish media.
The company said that the financing provided by the Spanish government through the Ministry of Industry and Tourism, with the support of the EU NextGenerationEU program, strengthens the institutional support for what is expected to be the first environmentally friendly steel production facility in the Iberian Peninsula.
€1.65 billion is moving towards the implementation of the project
It is expected that the total investment in the project will amount to 1.65 billion euros and more than 5,000 jobs will be created, including 1,000 direct vacancies. Hydnum Steel said the plant will replace fossil fuel imports with clean hydrogen and local renewable energy, demonstrating the ability to produce strategic raw materials in Europe in a competitive and sustainable way.
Since the announcement of the project in 2023, Hydnum Steel has provided grid connectivity at the 500 MW Brazatortas node in Ciudad Real and signed sales agreements covering 100% of the planned production of pure steel during the first five years of the plant's operation.
The project receives institutional recognition
The project was also designated a Project of special Interest (POI) at the expense of the regional budget of Castilla-La Mancha and was recognized at the World Economic Forum as one of the most innovative steel decarbonization projects.
Commenting on the financing, Hydnum Steel CEO Eva Maneiro said that the PERTE award confirms both the scale of the project and its role in the reindustrialization and strategic autonomy of Europe, adding that the support demonstrates the project's readiness for implementation and its compliance with international standards.h The objectives of Spain and the EU in the field of industry, energy and decarbonization.
Author: Stilorbis
Steelorbis.com