The ceremony was attended by the minister for energy, business and industry and deputy prime minister of Sweden Ebba Busch and SSAB chief executive officer Johnny Sjöström. 

SSAB’s new steel mill will replace its current blast furnace-based production with an estimated capacity of 2.5 million metric tons annually. It will be equipped with two electric arc furnaces (EAFs), advanced metallurgy, an integrated hot rolling mill and a cold rolling complex.

“With the new technology, we get lower costs, shorter lead times and a better ability to handle variations in demand. When we close the current production, we will largely eliminate our carbon dioxide emissions in Luleå,” said Sjöström

The company estimates the mill will strengthen its long-term competitiveness and reduce Sweden’s CO2 emissions by 7%. 

“This investment consolidates Sweden's position as a leading industrial nation and shows that we are meeting climate challenges with ground-breaking innovation and strong industrial leadership,” said Busch. 

SSAB said its total investment in Luleå amounts to €4.5 billion and includes a cold rolling mill, advanced galvanization and continuous annealing.