【SMM Steel】Stegra secures funding to complete Boden green steel plant

Published: May 15, 2026 16:36

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【SMM Steel】Swedish green steel company Stegra has reached an agreement with creditors to unlock approximately €1.5 billion in unused credit lines to complete construction of its Boden green steel plant. The company has also raised €1.4 billion in equity financing. Major creditors include the European Investment Bank, BNP Paribas, ING, and KfW IPEX-Bank, with senior debt estimated at €3.5 billion. After months of difficult negotiations amid surging construction costs, the Wallenberg Investments-led equity round provided critical support, with Temasek, IMAS Foundation, and existing shareholders Altor, Hy24, and Just Climate also participating. The plant is using hydrogen and renewable electricity to cut CO₂ emissions by up to 95% versus traditional blast furnaces.

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