FEED study with Fortum concluded

SSAB is working on the HYBRIT initiative with its partners LKAB and Vattenfall. A demonstration plant to produce fossil-free sponge iron is being built on LKAB's site in Gällivare, Sweden, and the volumes from that plant are intended for SSAB´s transformation.

Exploring the Raahe option with Fortum was one alternative among others. SSAB and Fortum jointly concluded that it was not possible to find a commercial arrangement that would work for both parties. No further steps have been agreed.

SSAB is continuing to work on the green transition of its Nordic strip production according to plan and the conclusion of the FEED study will not affect this.

In January 2022, the company's Board of Directors made a policy decision to transform the company's Nordic strip production and to accelerate the green transition. The company's own production is estimated to be largely fossil-free in around 2030. A new mini-mill-based production system will be built in Raahe, Finland, and Luleå, Sweden. A decision on the order of investments in Raahe and Luleå is expected next year.