Swedish specialty steel producer SSAB has successfully raised an additional €430 million in green financing, completing the full funding for its €4.5 billion transformation project in Luleå, Sweden. This ambitious project aims to build a state-of-the-art mini-mill designed to drastically reduce carbon emissions and enhance production efficiency.
The upgraded facility is expected to:
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Cut Sweden’s total CO2 emissions by up to 7%, making a significant environmental impact
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Feature an annual production capacity of 2.5 million metric tons
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Incorporate two electric arc furnaces, advanced metallurgy, and an integrated rolling mill
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Include cold rolling, galvanizing, and continuous annealing processes
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Utilize a flexible feedstock mix of fossil-free sponge iron, pig iron, and recycled scrap
Leena Craelius, SSAB’s CFO, described the financing as a "key milestone" in the company's green steel transition, enabling them to virtually eliminate CO2 emissions from their Luleå production while reducing costs and improving product quality.
The revamped mini-mill will reposition SSAB Europe as a premium steel producer, offering customers lower costs and shorter delivery times.
VietnamSteel by Hoa Sen Group
