A new round of financing of approximately SEK 16 billion means that construction of the green steel plant in Boden can continue. The announcement is seen as an important signal for the entire transition in the municipality.
A new round of financing of approximately SEK 16 billion means that construction of the green steel plant in Boden can continue. The announcement is seen as an important signal for the entire transition in the municipality.
The financing corresponds to EUR 1.4 billion and is led by Wallenberg Investments together with several international investors and existing owners. The funds will be used to complete Stegra’s green steel facility in Boden.
For the Municipality of Boden, the announcement is welcome.
“This is a very important announcement. It strengthens confidence in the green transition in Boden. We have always worked on the assumption that the establishment would go ahead, and now we have further confirmation,” says Municipal Commissioner Béatrice Öman.
After a period of lower activity, the pace of construction is now expected to increase again. At the same time, the municipality continues its work to meet the needs arising from the establishment.
“Now it’s about the next step. We need to create good conditions for the people moving here to work. They must also be able to live, build a life, and thrive in Boden,” says Béatrice Öman.
High demand for housing
Boden’s population has increased for ten consecutive months. At the same time, several thousand guest workers are temporarily living in the municipality.
The rapid development is clearly noticeable—not least in the housing market. Housing is currently one of the biggest challenges.
The vacancy rate for rental apartments in Boden is very low, at just 0.23 percent. This means there are very few available homes.
The municipality is working together with both private and public actors to provide more housing and increase the pace of construction.
“This is a high-priority issue for us. We are working on multiple fronts to enable more housing. We have a strong planning pipeline that stands out in Sweden, but we also need to bring in more actors and find new solutions to increase construction. Ensuring that people can find a home here is crucial for the transition to succeed.”
The announcement of the financing comes after a period during which many have followed developments closely.
“This is very welcome news. At the same time, we have always known that such a major transition takes time. Many have followed the developments, even though the process has largely been internal to the company. I am proud of the patience and commitment shown by the people of Boden. A big thank you to all of you,” says Béatrice Öman.
