"We have the same conditions as we have for Klimatklivet and Industriklivet. This company, just like other companies, has the opportunity to apply for them, according to the criteria that exist," says Ebba Busch.
Raises a warning finger
TT is raising the issue with the Minister of Trade and Industry in connection with a visit to the Riksdag. This after Stegra's newly appointed chairman Shaun Kingsbury said on Tuesday that talks are underway with the government about a payment of support to Stegra of 150 million euros, which the EU Commission has already given the green light for.
"These are positive discussions and we'll see how things go in the next few weeks," Kingsbury said.
At the same time, Busch raises a warning finger for painting an overly negative picture of Stegra's financial challenges.
The financing round that is underway – where Stegra itself has explained that it has broken through the budget and needs 10 billion kronor on top of the 70 billion already invested to complete the new steel factory in Boden – is in line with what Stegra said they would do when the Minister of Industry and Trade visited the company in January this year, according to Busch.
“Hear the ravens of misfortune”
The same applies to the major changes in the company's management.
"It's in line with what Stegra has said they will do. So I'm quite surprised by the headlines," says the Minister of Industry and Trade.
"I hear the ravens of misfortune, almost inciting," she adds.
According to Busch, it is important to “be careful with your words, so that you do not influence the market through the media in a way that has no bearing on reality”. The risk is that otherwise you “speculate on a changed market situation for an individual company”.
I think you should be very careful with that.
According to Shaun Kingsbury, negotiations are underway regarding capital injections, talks with lenders about restructuring loans. Stegra also wants to try to sell the railway and power grid to an external owner.
It will be a while into next year before we get everything in place, Kingsbury said.
Steel manufacturer Stegra (formerly H2 Green Steel) was founded in 2020, with the goal of using new fossil-free production methods to produce what is known as “green steel.” The plan is currently to begin producing 2.5 million tons of green steel per year in a newly built factory in Boden, starting in just over a year – that is, around the turn of the year 2026-2027.
The company has already raised over 70 billion for its project – from a long list of owners and lenders. But it's not enough.
According to a press release from October 13, they are chasing another 10 billion - including to cover investments in the port of Luleå and new railway tracks at the factory area in Boden.
