FRANKFURT, Oct 7 Reuters Germany39;s Thyssenkrupp said it is reviewing its plans for the production of green steel following a report on Sunday that it was considering halting a major decarbonisation project.

The crisisridden conglomerate said it is reviewing the plan for its steel division, including its green transformation, which refers to the carbonneutral production of steel, one of the most polluting industrial processes.

We are continuously examining the best and most economically viable solutions under the given conditions in terms of technology and results in order to make Thyssenkrupp39;s steel business climateneutral in the long term, it said.

Shares in Thyssenkrupp were down 3.2 at 0826 GMT, after the release of its statement late on Sunday.

Thyssenkrupp was considering scenarios ranging from using different technology to halting the hydrogenbased direct reduction project, German newspaper Handelsblatt reported on Sunday, citing internal documents.

Thyssenkrupp Steel Europe TKSE, in which Czech billionaire Daniel Kretinsky owns a 20 stake, last month warned that the planned direct reduction site in Duisburg could cost more than the initial estimates of 3 billion euros 3.29 billion.

Around 2 billion euros of the project39;s funding is from the German government and the state of North RhineWestphalia, where Thyssenkrupp is based, and TKSE said possible cost increases had no impact on the subsidies.

Thyssenkrupp confirmed earlier statements saying that…