The funding will be used for the conversion of SSAB's existing coal-based steel production into a more environmentally friendly electric steel plant. The new plant is planned to produce 2.5 million tons of “green” steel per year.
This investment for SSAB's plant in Luleå aims to decrease carbon emissions in Sweden by 7%. This will increase Sweden's industrial competitiveness and strengthen sustainability in the steel sector, stated Martin Lindqvist, the company's CEO. The plant is scheduled to be fully operational in 2029. This state aid to accelerate the project is expected to increase the process by three years and contribute greatly to decreasing intensity impacts.
SSAB plans to equip the new process with advanced technology provided by Danieli. The plant is expected to be demonstrated with many modern systems such as two electric arc furnaces, advanced metallurgy products and a casting line. The conversion will also be a continuation of SSAB's previously initiated conversion to fossil fuel-free steelmaking in Oxelösund.
With the new technology in Luleå, SSAB aims to become Europe's leader in sustainable steel production. This transformation will not only minimize Sweden's carbon emissions, but can also set an example for other steel components in Europe. With the new capacity, green steel production, where fossil-fueled production is expanding, will be highly competitive and the negative impact on health will be significantly reduced.
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