SSAB, a Sweden-based steel company, has obtained an additional EUR 430 million in green financing for its Luleå transformation project, following successful debt raising in late April 2025. The latest funding is supported by the German Export Credit Agency Euler Hermes and supplements earlier support from Swedish, Italian, and Nordic financial institutions. Crédit Agricole CIB structured the deal.

This final financing completes the EUR 2.7 billion green loan package for SSAB's EUR 4.5 billion Luleå mini-mill investment, announced in 2024. Leena Craelius, SSAB’s CFO, said this milestone enables building a stronger, more competitive SSAB by reducing costs, improving product mix, and virtually eliminating Luleå’s CO2 emissions.

The new 2.5 million ton per year mill will feature two electric arc furnaces, advanced ladle metallurgy, and an integrated rolling mill. It aims to reposition SSAB Europe as a premium product maker and will replace the current blast furnace-based production system, cutting Sweden’s CO2 emissions by 7%.