The steel manufacturer SSAB has been awarded support of SEK 1.45 billion to finance the steel industry's transformation in Norrbotten, writes SSAB in a press release.
The EU funds come from the Just Transition Fund and are intended to contribute to fossil-free steel production in Luleå, according to SSAB.
The goal is to phase out the existing coal- and blast furnace-based production system in Luleå in favor of an integrated electric steelworks, among other things through the use of electric arc furnaces, according to SSAB.
"This will reduce Sweden's carbon dioxide emissions by 7 percent in addition to the 3 percent that will disappear with the transformation of SSAB's steelworks in Oxelösund", writes SSAB.
The new steelworks in Luleå is expected to be operational by the end of 2028, while the transformation in Oxelösund is expected to be completed in two years.
"The financing is largely self-financed through cash flow", writes SSAB.
