German green steel leader Salzgitter AG’s Supervisory Board has unanimously approved the Executive Board's application to make own funds of EUR 723 million available for the first expansion stage of the SALCOS project. As part of the first expansion stage, electrolysis plant, 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 tonnes of low C02 crude steel a year, thereby replacing a blast furnace and a converter. The aim of SALCOS is to fully convert the integrated steelworks in Salzgitter in three stages to low C02 crude steel production by 2033. Up to around 95 % of the C02 emissions amounting to approximately 8 million tonnes a year will be gradually reduced as a result. The transformation will enable the process that was formerly based on coking coal to be replaced by a new hydrogen based route. Emissions savings of around 95 % a year are to be subsequently achieved, thereby avoiding approximately 1 % of Germany’s carbon emissions.