SSAB’s investment in a new electric steel mill in Luleå has been officially recognized as a strategic net-zero project under the EU’s Net-Zero Industry Act. The decision, announced by the Swedish Agency for Economic and Regional Growth (Tillväxtverket), underscores the project’s significance for Europe’s future competitiveness and its capacity to meet climate and energy targets. In December 2024, the project was awarded SEK 1.45 billion in funding from the EU and Tillväxtverket, including support from the Just Transition Fund, further underscoring its strategic relevance.
The designation gives the project priority status in the remaining permitting processes, with clearer and more predictable timelines, while all environmental requirements remain unchanged. SSAB is investing EUR 4.5 billion in Luleå to build a modern, electrified steel mill, enabling near-fossil-free steel production, lower production costs, and advanced steel products with significantly reduced climate impact. Once operational, the facility is expected to strengthen SSAB’s competitiveness and reduce Sweden’s total carbon dioxide emissions by around seven percent, marking a major milestone in Europe’s industrial and climate transition.