The transformation of the Saarland steel industry continues to gather pace.
A consortium of 16 banks, including us as one of the core banks of SHS – Stahl-Holding-Saar, is providing around €1.7 billion in loans as part of the Power4Steel project.
The project is the largest decarbonisation project in the European steel industry and marks the fundamental restructuring of steel production in Saarland (Dillinger, Saarstahl, ROGESA) towards low-carbon, green steel.
The installation of a direct reduction plant and two electric arc furnaces will reduce SHS’s CO₂ emissions by around 55% by 2030, with the aim of achieving climate-neutral production by 2045.
‘We are proud to be part of the banking consortium supporting this transformation process and thus contributing to sustainable industry, innovation and competitiveness,’ said Frank Eloy, CEO of SaarLB.
Photo: Transformation construction site in Dillingen, image rights: SHS
