Swedish steelmaker SSAB secured EUR2.3 billion in green financing to support its EUR4.5 billion investment in a fossil-free mini-mill in Luleå, Sweden. The financing package, structured under the Green Loan Principles, is backed by the Swedish National Debt Office, Italy’s SACE export credit agency, and the Nordic Investment Bank, with Crédit Agricole CIB serving as Global Coordinator.

The new mini-mill will feature two electric arc furnaces, advanced metallurgy, and an integrated rolling mill with a capacity of 2.5 million tons annually. It is central to SSAB’s strategy to cut production costs, shift to premium products, and eliminate nearly all CO₂ emissions from its Luleå operations, equivalent to 7% of Sweden’s total emissions. SSAB expects the new facility to enhance flexibility, shorten lead times, and support sustainable steel production.