Steelmaker SSAB AB plans to transform its Nordic strip production, one of the region’s top emitters, to cut emissions faster than previously forecast.
A pioneer of fossil-free steel, SSAB will invest about 45 billion kronor ($4.8 billion) through 2030 to transform its Lulea and Raahe mills in Sweden and Finland to “cost-effective mini-mills” with electric arc furnaces and rolling mills, the Stockholm-based company said on Friday. That will “eliminate the need to invest in existing systems with blast furnaces, steel plants and rolling mills,” the company said in a statement.
