BRUSSELS (Reuters) – The European Commission has approved 128 million euros ($139 million) of Swedish state aid to help steelmaker SSAB decarbonise its production, the Commission said on Monday.
“The measure will contribute to the achievement of the European Green Deal and the Green Deal Industrial Plan targets, while also helping to end dependence on Russian fossil fuels and accelerate the green transition”, the Commission said in a statement.
The EU’s Green Deal Industrial Plan was designed to ensure the European Union does not lose ground in the green tech race and can counter massive subsidies by the United States and China.
($1 = 0.9212 euros)
(Reporting by Charlotte Van Campenhout; Editing by Mark Potter)
