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SSAB Secures EUR 430 Million Green Financing for Luleå Transformation

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SSAB Secures EUR 430 Million Green Financing for Luleå Transformation

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SSAB Corporation ( ($SE:SSAB.A) ) has provided an announcement.

SSAB has secured an additional EUR 430 million in green financing to support its transformation project in Luleå, Sweden, which aims to establish a state-of-the-art mini-mill. This project is crucial for repositioning SSAB Europe as a premium product maker while significantly reducing costs and CO2 emissions. The financing package, structured under the Green Loan Principles, marks a key milestone in SSAB’s transformation journey and reflects strong support from various partners. The new mini-mill will have a capacity of 2.5 million tonnes per year and will utilize a flexible mix of fossil-free sponge iron, pig iron, and recycled scrap, ultimately reducing Sweden’s CO2 emissions by 7%.

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 that focuses on creating a stronger, lighter, and more sustainable world through its value-added steel products and services. The company is known for developing SSAB Fossil-free™ steel and SSAB Zero™, which are largely carbon emission-free, reinforcing its leadership in sustainable steel production. SSAB operates in over 50 countries with production facilities in Sweden, Finland, and the US, and is listed on Nasdaq Stockholm and Nasdaq Helsinki.

YTD Price Performance: 31.50%

Average Trading Volume: 1,177,705

Current Market Cap: SEK55.99B

Find detailed analytics on SSAB.A stock on TipRanks’ Stock Analysis page.

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