Steelmaker SSAB to Invest $4.8 Billion in New Mill in Sweden (1)

Swedish steelmaker SSAB AB will spend as much as €4.5 billion ($4.8 billion) on a new plant in Lulea, in the northern part of the country, that will help clean up one of the world’s dirtiest industries.

It’s the firm’s biggest investment ever in a new plant and it had been debating whether to go ahead with the plans at Lulea or at its Raahe facility in Finland.

Steel is the world’s second-largest emitting sector after power generated from fossil fuels. The industry, which has relied largely on the same production techniques for more than a century, accounts for more ...