All agreed loans

Sweden. SSAB AB

Date of loan: 6 Apr 2009
Country: Sweden
Customer: SSAB AB
Amount in SEK: SEK 516 million
Amount in EUR: EUR 48.2 million
Maturity: 5 years
NACE sector / loan type: Other business activities
Business area: Industries and services

This loan contributes to climate change mitigation: 75%

Project

The 5-year maturity loan totalling SEK 516 million (EUR 48 million) has been provided for financing environmental investments at the company's production plants in Oxelösund, Borlänge and Luleå.

The investment programme includes improvements in recovery and utilisation of energy-rich gases from the blast furnace, improved treatment of crude iron from the blast furnace, more efficient handling of hazardous waste, replacement of outdated vehicles with more environmentally friendly ones, and a range of smaller improvements.

SSAB Svenskt Stål AB is Sweden's leading producer of high strength steel sheet and steel plate. The company was created in 1978 by a merger of three local steelworks in different parts of the country.

Sustainability summary

SSAB's environmental investment programme will result in substantial energy efficiency gains, improved handling of waste and better use of chemicals. The use of energy-rich gases that are formed in conjunction with steel production replace oil and LPG. These gases are primarily used for firing the coke batteries, preheating blast air for the furnaces and for heating slabs, etc. Other quantifiable environmental benefits are the reduced emission of nitrogen oxide and reduced consumption of chemicals.