Wallenberg Investments has agreed in principle with Stegra and new and existing shareholders and lenders on EUR 1.4 billion in new financing of Stegra to complete the construction of its large-scale green steel plant in Boden, Sweden.
Wallenberg Investments, which has led and formed a consortium with Temasek and IMAS, will take a leading position in Stegra going forward. Wallenberg Investments has committed to invest EUR 250 million in equity of the total financing round amounting to EUR 1.4 billion. The combination of new capital and, subject to credit approvals, support by its senior and junior lenders provides Stegra with a fully funded path to complete the construction and commissioning of its green steel plant. The financing has been agreed in principle and remains subject to lender credit approvals and finalisation of documentation. Additionally, customary regulatory approvals are required to close the financing. Signing is expected by the end of April, with closing anticipated during June 2026.
Upon the completion of the financing round, the intention is to nominate our senior industrialist Håkan Buskhe as a board member of Stegra (responsible investment manager), and senior advisor Leif Johansson as Chair of the Board.
“This is an industrial project of clear importance to Sweden. Based on our thorough assessment, we see a commercially viable way forward. That said, this remains a major and complex undertaking, and success will depend on strong execution across many dimensions. Taking these complexities into account, we enter this endeavor with a willingness to be deeply engaged going forward,” says Marcus Wallenberg, Chair of Wallenberg Investments.
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