SSAB Postpones Luleå Steel Mill Commissioning by 12 Months

SSAB Corporation ( ($SE:SSAB.A) ) just unveiled an update.

SSAB has announced a 12-month postponement in the commissioning of its new steel mill in Luleå due to delays in the reinforcement of the transmission grid by Vattenfall Eldistribution. The delay, which shifts the start-up from the end of 2028 to the end of 2029, is due to technical challenges faced by Svenska kraftnät in modernizing the existing grid. Despite the delay, the investment framework of 4.5 billion euros remains unchanged, and SSAB is in dialogue with stakeholders to ensure a sustainable project plan moving forward.

The most recent analyst rating on ($SE:SSAB.A) stock is a Hold with a SEK56.00 price target. To see the full list of analyst forecasts on SSAB Corporation stock, see the SE:SSAB.A Stock Forecast page.

More about SSAB Corporation

SSAB is a Nordic and US-based steel company known for producing value-added steel products and services aimed at creating a stronger, lighter, and more sustainable world. The company is a leader in developing fossil-free steel and has a significant focus on reducing carbon emissions in its operations. SSAB operates production facilities in Sweden, Finland, and the US, and is listed on Nasdaq Stockholm with a secondary listing on Nasdaq Helsinki.

Average Trading Volume: 1,218,493

Current Market Cap: SEK56.37B

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