© Reuters. Steel coils are waiting for delivery at the storage and distribution facility of German steel maker ThyssenKrupp in Duisburg, Germany, November 16, 2023. REUTERS/Wolfgang Rattay/File Photo
BERLIN (Reuters) – German industrial projects in jeopardy after a court ruling wiped 60 billion euros from the federal budget include chip factories, decarbonised steel production, and expanding the battery supply chain, two government sources said on Monday.
The ruling last week found the government’s move to transfer unused pandemic funds toward climate initiatives and industry support in a so-called Climate and Transformation Fund (KTF) was illegal.
That put numerous projects in key areas for Germany’s industrial competitiveness at risk, the sources, who declined to be named, warned.
Among them were the ramp-up of the hydrogen industry, with around 45 businesses from 35 regions involved in projects that had hoped for support from the fund.
In the steel industry, businesses planned to invest 6 billion euros ($6.54 billion) in decarbonised steel production, directly and indirectly employing around 20,000 people.
Investments in microelectronics were bundled into the KTF,…
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