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SSAB Locks Up Financing for Green Mini-Mill
07/01/2025 - SSAB has secured the final piece of funding for its green mini-mill in Luleå, Sweden, the company has announced.
SSAB said a EUR430 million syndicated loan backed by the German Export Credit Agency Euler Hermes completes the financing package for the project.
“Securing this final piece of the financing marks a key milestone in our transformation journey,” said SSAB chief financial officer Leena Craelius. “It reflects strong support from our partners and the investment in Luleå will enable us to build an even stronger and more competitive SSAB by reducing costs, accelerating the product mix improvement and virtually eliminating all CO2 emissions from Luleå production.”
The new mill will have an annual capacity of 2.5 million metric tons and will feature two electric arc furnaces, advanced ladle metallurgy and an integrated rolling mill. The investment also includes a cold rolling complex, advanced galvanizing, as well as continuous annealing, and is key to SSAB Europe long-range strategy.
When the new mini-mill is completed, SSAB will close the current blast furnace-based production system in Luleå, which will largely remove the CO2 emissions from existing operations. The reduction corresponds to 7% of Sweden’s current CO2 emissions.
“Securing this final piece of the financing marks a key milestone in our transformation journey,” said SSAB chief financial officer Leena Craelius. “It reflects strong support from our partners and the investment in Luleå will enable us to build an even stronger and more competitive SSAB by reducing costs, accelerating the product mix improvement and virtually eliminating all CO2 emissions from Luleå production.”
The new mill will have an annual capacity of 2.5 million metric tons and will feature two electric arc furnaces, advanced ladle metallurgy and an integrated rolling mill. The investment also includes a cold rolling complex, advanced galvanizing, as well as continuous annealing, and is key to SSAB Europe long-range strategy.
When the new mini-mill is completed, SSAB will close the current blast furnace-based production system in Luleå, which will largely remove the CO2 emissions from existing operations. The reduction corresponds to 7% of Sweden’s current CO2 emissions.
