Ovako has announced a EUR 9 mln (USD 9.8 mln) investment in its Smedjebacken steel mill to further enhance innovation and efficiency. This new funding follows previous upgrades, including an exhaust gas filter, continuous casting machine, and vacuum tank degassing (VTD) system.
The investment will replace the 50-year-old phase compensation system with a modern SVC Light STATCOM system from Hitachi Energy. This upgrade will improve power quality and flicker levels, reduce energy and electrode consumption, and boost the productivity of the electric arc furnace.
The upgraded facility is expected to be operational after summer 2026, continuing Ovako’s commitment to sustainable and efficient steel production.
Ovako is a major European manufacturer of engineering steel serving clients in the bearing, transportation, and manufacturing sectors. With offices strategically located across Europe, North America, and Asia, Ovako provides customized warehouse solutions tailored to meet each customer’s specific location and delivery requirements. Since March 2019, Ovako has operated as a subsidiary of Sanyo Special Steel and is part of the Nippon Steel Corporation group. 
1 USD / 0.91 EUR
