Norwegian decarbonized steel developer Blastr Green Steel has announced that it plans to invest more than €1 billion to build an iron ore pellet plant in Gildeskål municipality in northern Norway.
The planned plant, which will be based on hydropower, will convert iron ore pellet feed into high-quality direct reduction pellets, which are used as raw material for green steel production. Pellets from the Gildeskål site will be a key part of the company’s green steel value chain.
The plant, which is scheduled to start production in 2028 and which will provide 120 jobs when operational, will supply pellets to the company’s green steel plant to be built in Inkoo, Finland.
Blastr aims to reduce carbon emissions from steel production by 95 percent.