News: SSAB pulls out of billion-dollar bailout in the US
SSAB announced less than a year ago that the US Department of Energy had selected the company as a candidate to receive federal support of 500 million dollars. The aid was part of the Biden administration's industrial transformation program.
For SSAB, the aid, equivalent to over SEK 5 billion, would have been dedicated to building a new plant for fossil-free steel with Hybrit technology in Perry County, Mississippi.
Now the American newspaper Canary Media reports that SSAB has quietly withdrawn from the project. The company has not given any explanation as to why the negotiations for support have ended or what is happening with the plant in Perry County.
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