Speciality steelmaker Voestalpine expects to receive funding in Austria for its billion-euro switch from blast furnaces to electric ones, its chief executive said Wednesday.
“We are hoping for a subsidy in the high double-digit millions,” CEO Herbert Eibensteiner said.
The company has so far been unsuccessful in its application for EU funds. The application for funds in Austria will be submitted in June, and a decision is expected in October or November, added the chief executive.