SSAB's Board of Directors have today taken the decision to proceed with the next step in SSABs transition, building a state-of-the-art fossil-free mini-mill in Luleå,
The new Luleå mill will have a capacity of 2.5 mton/year and consist of two electric arc furnaces, advanced secondary metallurgy, a direct strip rolling mill to produce SSABs specialty products, and a cold rolling complex to serve the mobility segment with a broader offering of premium products. The new mill will be supplied with a mix of fossil free sponge iron from the Hybrit demonstration plant in Gällivare and recycled scrap.
"The transformation of Luleå is a major step on our journey to fossil-free steel production. We will remove 7% of
The total mini-mill investment is estimated to
The investment will result in significant value creation. Compared to the current system the yearly EBITDA improvement is estimated to be more than
Startup of the new mill is planned at the end of 2028 with full capacity one year later. Environmental permits are expected at the end of 2024. The investment is an important step in SSAB's strategy to establish a leading position in emission free special and premium steels. To date SSAB has entered 55 partnerships with leading customers for our fossil free and zero steels.
SSAB took a decision 2023 to transform the steel mill in Oxelösund to fossil-free production and the project is proceeding according to plan. The reasons to proceed with Luleå as a second step is driven by financial considerations, as well as the fact that the Raahe mill has more advanced equipment in better condition. As a third step a transformation for
"Together with our partner
SSAB invites you to a telephone conference at
Click on the link below and complete the online registration form. You can choose if you want to dial in or click "Call Me" for a call-back.
Link to teleconference: https://register.vevent.com/register/BI50a8814a2f7749b8857b79891fed3b38
For further information, please contact:
Per Hillström, Head of Investor Relations, per.hillstrom@ssab.com, phone: +46 702 95 29 12
This information is inside information that
SSAB is a Nordic and US-based steel company that builds a stronger, lighter and more sustainable world through value added steel products and services. Working with our partners, SSAB has developed SSAB Fossil-free™ steel and plans to reinvent the value chain from the mine to the end customer, largely eliminating carbon dioxide emissions from our own operations. SSAB Zero™, a largely carbon emission-free steel based on recycled steel, further strengthens SSAB's leadership position and our comprehensive, sustainable offering independent of the raw material. SSAB has employees in over 50 countries and production facilities in
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