Germany invests EUR40bn to transform coal regions / As part of its coal phase-out, the German government is pumping billions into future technologies

Berlin (ots) - The German cabinet is putting forward legislation
allocating 40 billion euros to help coal-producing regions transition
to sustainable economies. The money is earmarked for regions in the
states of Brandenburg, Saxony, Saxony-Anhalt and North
Rhine-Westphalia, and the law is expected to pass the German
parliament by the end of this year.

The money is intended for a wide range of purposes including
improving broadband and other infrastructure and underwriting
innovation and research. 600 million euros are already planned for
eleven projects and initiatives, for instance, the establishment of a
Center for Advanced System Understanding, a Fraunhofer Center for
Digital Energy and an Innovation Campus for Electronics and
Microsensors.

"The aim of the federal government together with the states of
Brandenburg, Saxony, Saxony-Anhalt and North Rhine-Westphalia is to
develop coal-producing parts of Germany into regions of innovation,"
says Flérida Regueira Cortizo, energy and environmental technology
expert at Germany Trade & Invest (GTAI). "This requires structural
change, in which environmental and construction technologies will
play a central role."

Earlier this year, the German government decided to phase out the
use of coal by 2038. A special commission was convened to draw up
plans for how to reconfigure the economies of Germany's traditional
coal-producing regions. The proposed legislation is a direct result
of that body's recommendations.

"Government economic programs of the 40 billion euros scope don't
come along every day," says GTAI CEO Jürgen Friedrich. "This is a
massive project aiming at transforming the economies and societies of
significant parts of the country. So the opportunities for foreign
and domestic companies to get involved will be many and varied."

Germany Trade & Invest (GTAI) is the Federal Republic of Germany's
agency for promoting trade and investment to and from Germany. It
advises foreign companies looking to expand their business activities
in the German market. It also provides information on foreign trade
to German companies seeking to enter foreign markets. All inquiries
relating to Germany as a business and investment location are treated
confidentially. All investment services are available free of charge.

Originaltext: Germany Trade & Invest
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Jefferson Chase
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Corporate Communications
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