Fri, 24 Sep 2021

HELSINKI, Sept. 14 (Xinhua) -- The Finnish government said on Tuesday that it would take over direct control of shares in Swedish steelmaker conglomerate SSAB to help the country achieve carbon neutrality by 2035.

The state of Finland, through state investment firm Solidium, ranks the third-largest shareholder in SSAB, which plays as one of the world's leading fossil-free steel producers.

Solidium has held about six percent of the shares and eight percent of the voting rights in SSAB.

The Finnish government will transfer the ownership rights to the Prime Minister's Office, it said in a press release.

Emissions reduction in industry plays a significant role in achieving Finland's carbon neutrality target.

SSAB's steel plant in Raahe, northwestern Finland, was regarded as the largest source of industrial carbon dioxide emissions in the country. The plant's annual CO2 emissions were estimated at 4 million tonnes.

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