SSAB has decided to invest SEK 6.2 billion ($578 million) in a new electric arc furnace and raw material handling facility in Oxelösund, Sweden, plus investments in the future power line and restoration costs, Kallanish hears.
The measure will eliminate the need to invest in existing systems using blast furnaces and coking plants, and will mean increased capacity for premium products, an improved cost position and fossil-free production, SSAB states.
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