The ministry said Liberty had pledged to gradually ramp up production at the steelworks from zero to 100,000 tonnes/month over four months from February while ensuring workers were paid.

Progress to that end had been limited, the ministry noted.

“Liberty promised everything, but has delivered on practically nothing,” it added.

The ministry said it had contributed around HUF 70 billion to saving the steelworks, including wage guarantees and the use of CO2 emissions quotas.

Transitioning production at the base to green steel would require an investment of a further HUF 200 bln, it added.