SSAB’s investment in a new electric arc steel plant in Lulea has been designated a strategic net-zero project under the EU’s Net-Zero Industry Act, highlighting its importance for Europe’s industrial competitiveness and climate goals.
The decision, announced by Sweden’s Agency for Economic and Regional Growth (Tillvaxtverket), follows the allocation of SEK 1.45 bln (USD 164.5 mln) in EU and national funding to the project in December 2024, including support from the Just Transition Fund.
The strategic status gives priority and clearer timelines to the remaining permitting processes, while all environmental requirements remain unchanged. This is expected to improve coordination and speed up implementation as SSAB transitions toward fossil-free steel production.
SSAB is investing around EUR 4.5 bln (USD 5.38 bln) in Lulea to build a modern, electrified steel mill capable of producing advanced steel products with a significantly lower carbon footprint. The project is expected to reduce Sweden’s total carbon dioxide emissions by around seven pct while strengthening SSAB’s long-term competitiveness.
1 USD / 0.83 EUR / 8.81 SEK
