Stegra Faces Potential Collapse After Otto Gernandt Resigns

Expert Ossi Pesämaa predicts the imminent collapse of the green steel project Stegra after finance chief Otto Gernandt resigned following reports of hundreds of millions in unpaid invoices.The production facility in Boden remains only 60 percent complete despite an investment of 70B kr, leaving the venture with a debt burden comparable to the established industrial group SSAB.Analysts suggest a consortium involving LKAB or SSAB may be necessary to save the initiative as municipal debt in the region has ballooned to 1.2B kr.