THE GOVERNMENT APPROVED THE MEMORANDUM. SUPPORT FOR DECARBONIZATION

The company plans to reduce emissions by 55% by 2030. Investments in green projects are estimated at more than $1.7 billion. The Czech government has promised to support the efforts of Třinecké Železárny to switch to an environmentally friendly production method, which will help improve its competitiveness. The parties plan to sign a memorandum of understanding soon.

"We are aware that the decarbonization process and further economic transformation pose major challenges for the Czech heavy industry. Therefore, I am pleased that the government has approved a memorandum with Třinecké Železárny, one of the most important enterprises in the Moravian-Silesian region, which means that the government clearly supports the transition to a more sustainable method of steel production," commented Josef Sikela, Minister of Industry and Trade of the Czech Republic.

As part of the GreenWerk program, Třinecké Železárny plans to reduce emissions by 55% by 2030. It focuses on the use of green energy in production processes and operations and includes approximately 20 projects worth more than CZK 40 billion ($1.7 billion). In particular, the construction of a new electric arc furnace (EAF), connection to new energy sources, automation of production processes, increased use of renewable resources, etc. These measures will create at least 100 jobs, reduce CO2 emissions, and optimize energy consumption.

"As the largest steel producer in the Czech Republic, we are fully aware of our responsibility to mitigate climate change. We are ready to achieve a 55% reduction in greenhouse gas emissions compared to 1990 by 2030 and fulfill other EU ETS obligations through the implementation of a large-scale investment program," said Roman Heide, CEO of Třinecké Železárny.

"For the citizens of the Moravian-Silesian Region, the environment and especially the quality of the air is a really important topic. Therefore, we welcome concrete steps that can bring positive results in this area. Třinecké železárny is one of the important companies that continuously negotiates with the regional authorities and works together to improve the environment. In so-called voluntary agreements, they undertake to take steps beyond the scope of the law that will have a positive effect on the environment. I greatly appreciate the approach of ironworks, I see them as a "good neighbor" that not only gives jobs to local people, helps the local economy, but is also socially responsible. The GreenWerk program is proof of that," says Jan Krkoška, Governor of the Moravian-Silesian Region.

In addition to the government and the Moravian-Silesian region, the Ministry of Industry and Trade, the Ministry of Finance, and the Ministry of the Environment will also be involved in the GreenWerk project. Any financial support for projects will be provided in accordance with the rules of subsidy programs from both national and European funds.

The Czech Republic is an important exporter of steel and steel products. The export of steel and steel products thus contributes to the country's trade balance and strengthens foreign exchange trade. Třinecké železárny is the largest producer of steel in our country. In 2023, Třinecké Železárny produced 2.4 million tonnes of steel, and the total steel production in the country reached 3.4 million tonnes. In total, the steel market employs over 50,000 people.