Swedish prime minister attends start of construction in transformation of SSAB's Nordic production system
Today, in the presence of Swedish Prime Minister Ulf Kristersson, SSAB made a start on construction work for an electric arc furnace in Oxelösund. This is an historic milestone for Swedish industry and for the green transformation to fossil-free steelmaking.
SSAB earlier took a policy decision to transform its entire Nordic production system in around 2030 and this year took a decision to invest SEK 6.2 billion in a new electric arc furnace and related raw material handling in Oxelösund.
"We are now embarking on the large-scale construction and transformation of SSAB's Nordic production system. Replacing traditional blast furnaces with electric arc furnaces is a multi-billion investment. Transformation of our Nordic production system will have a positive impact both locally and globally, and help our customers to reduce their carbon footprint. At the same time, we will keep local jobs and improve the surrounding environment," says Martin Lindqvist, President and CEO of SSAB.
The investment in Oxelösund is an important step in SSAB's transformation to fossil-free steelmaking and to becoming a largely fossil-free company. It will strengthen SSAB's competitiveness and contribute to creating new world-leading products and solutions for a strong, lighter and more sustainable world.
"The investment in Oxelösund will increase SSAB's flexibility and earnings capability. The conversion to an electric arc furnace will mean that Oxelösund alone can deliver a reduction of around 3% in Sweden's CO2 emissions," says Johnny Sjöström, Head of SSAB Special Steels.
SSAB has already made and delivered pilot volumes of fossil-free steel (SSAB Fossil-free™ steel) to strategic customers and taken a leading position in the green transition in the steel industry. This year saw SSAB take another important step with the launch of SSAB Zero™ - a steel based on recycled steel scrap and made using fossil-free electricity with no fossil carbon dioxide emissions.
For further information, please contact:
Anna Molin, Press Officer, SSAB, tel. +46 76 110 4676, [email protected]
Gunilla Hjalmarson, Head of External Communications, SSAB, tel. +46 76 117 9185, [email protected]