Romanian Ministry of Economy to support steel industry plans

11/05/2023

Romania’s Ministry of Economy to Launch State Aid Programs for Energy-Intensive Industries

The Romanian Ministry of Economy is preparing to launch two state aid programs for energy-intensive industries, including the steel industry. The programs will provide financial support from government and European funds to help these industries overcome their difficult economic situation.

The state aid programs are part of a broader economic plan to strengthen the resilience and sustainability of Romania’s industrial sector. The plan also includes investments in green technologies, such as renewable energy and energy efficiency.

The Ministry of Economy has been working closely with the Union of Romanian Steel Producers (UniRomSider) to develop the state aid programs. UniRomSider has welcomed the government’s initiative, saying that the programs are essential to the long-term viability of the steel industry in Romania.

The state aid programs are expected to be launched in the coming months. They will provide much-needed financial support to energy-intensive industries, helping them to weather the current economic storm and transition to a more sustainable future.

In addition to providing financial support, the state aid programs will also help energy-intensive industries to improve their energy efficiency. This will reduce their reliance on fossil fuels and make them more competitive in the global market.

The state aid programs are a welcome development for Romania’s industrial sector. They will help to ensure the long-term viability of these industries and create jobs in the process.

Here are some additional details about the state aid programs:

  • The programs will be open to all energy-intensive industries, including the steel, cement, and chemical industries.
  • The financial support will be provided in the form of grants and loans.
  • The programs will also provide technical assistance to help industries improve their energy efficiency.
  • The state aid programs are expected to cost around €1 billion.

The state aid programs are a significant step forward for Romania’s industrial sector. They will help to ensure the long-term viability of these industries and create jobs in the process.

CBAM