Nordic Builders Bet Big on World’s Largest Green Steel Project

Construction firms across the Nordic region have made a high stakes bet on a building site the size of about 400 soccer fields just south of the Arctic Circle.

That’s where startup Stegra AB is developing the world’s biggest green steel plant. While work is about 60% complete, the Swedish firm is grappling with soaring costs and unfulfilled state grants, and now needs further funds to have a chance of completing the facility — hailed as a bellwether for the industry’s fossil fuel-free transformation.