East German Leaders Sign Chemical and Refinery Pact Seeking Federal Support

Overview

• Regional politicians, industry groups and unions signed a Chemie- und Raffineriepakt in Magdeburg to shore up East Germany’s chemical and refinery sector and urged federal action.
• The pact seeks competitive energy prices, faster permitting for projects, and stable investment rules to keep companies investing.
• Signatories included Michael Richter, Nora Schmidt-Kesseler, Stephanie Albrecht-Suliak and Christian Küchen.
• The sector employs about 63,000 people and generates more than €30 billion a year, yet output and sales are falling and many firms report losses.
• Backers warn that Middle East tensions and supply-chain delays are raising energy and raw material costs, which threatens value chains and well-paid jobs in Saxony-Anhalt.