Thyssenkrupp Holds Duisburg Cost Line as Goldman Rebuilds 5% Stake

Thyssenkrupp has confirmed that the delayed start of its direct-reduction plant in Duisburg will not inflate the project's price tag, keeping cost estimates intact even as the flagship green-steel scheme slips two years behind schedule.

The facility, part of a steel overhaul worth roughly EUR 3 billion, is now slated to come on stream in 2029 rather than the originally planned 2027. Thyssenkrupp Steel Europe pins the setback chiefly on the engineering phase, according to dpa-AFX and media reports. The company has also secured a legally binding amended approval covering the funding conditions for tkH2Steel, its decarbonisation programme, and is preparing a fresh hydrogen tender.

Ownership Structure and Targets

The plant sits alongside Thyssenkrupp's stake in tk accelis, the business carved out and listed around two weeks ago. Thyssenkrupp retained 51% of the spun-off entity, which now pursues its own medium-term goals: an adjusted EBITDA margin of 4–5% and revenue growth of more than 4% a year. Both figures are targets rather than reported results.

Goldman Sachs Rebuilds Position

On the shareholder side, a Goldman Sachs voting-rights notification disclosed a combined position in Thyssenkrupp of 5,01%, up from 4,25%. The threshold crossing was dated Monday and published yesterday. Breaking down the total, voting rights from shares account for 0,68% while instruments make up 4,34% — meaning the headline figure is not equivalent to a direct equity holding of the same size, since instruments form the bulk of it.

The move reverses a previously reported reduction: Goldman had flagged a decline from 5,08% to 4,25% for 29 October. The subsequent increase covers share voting rights and instruments in aggregate, not the stock position alone.

Chlor-Alkali Plant Goes Live in India

Operationally, subsidiary Thyssenkrupp Nucera reported on Thursday the commissioning of a chlor-alkali plant in India for client Kutch Chemical Industries Limited. According to the company, the facility has an annual production capacity of 220,000 tonnes of caustic soda.

Reporting Date Set

Thyssenkrupp has scheduled 8 December 2026 for publication of its 2025/2026 annual report, alongside an annual press conference and an analyst and investor conference.