Outokumpu assesses options to build a new slag furnace in Tornio, Finland
Press release
September 30, 2019 at 2.00 pm EET
Outokumpu assesses options to build a new slag furnace in Tornio, Finland
Outokumpu is assessing options to build a new slag furnace in Tornio, Finland, and the company has initiated an Environmental Impact Assessment (EIA) procedure as basis for decision making. The prerequisites for realizing the project, details of the planned slag furnace and its technical execution as well as potential financing alternatives will be specified during the planning process.
The planned unique production facility would produce ferrochrome-nickel (FeCrNi) alloy from slag and side streams primarily from production processes in Tornio. The slag furnace would enable efficient utilization of various side streams, which would improve resource efficiency of Outokumpu’s production significantly. The new slag furnace would be the most energy-efficient ferrochrome-nickel alloy producer in the world, as energy consumption in the new facility would be 30 per cent lower than in the current ferrochrome production processes enabled by the new metallurgical process invented by Outokumpu. Furthermore, the new facility would strengthen Outokumpu’s competitiveness in the global ferrochrome market.
The final decision regarding the new facility will be made at the earliest during 2020. In addition to the results of the EIA and environmental permit processes, the final investment decision will be subject to the development of the global economy and the stainless steel markets and their outlook, as well as the availability of financing and potential investment subsidies. The estimated construction time of the new facility is approximately two years.
For more information:
Media: Corporate communications, tel. +358 9 421 3840
Investors: Aki Vesikallio, IR Manager, tel. +358 50 544 8925
Outokumpu Oyj
Outokumpu is the global leader in stainless steel. We aim to be the best value creator in stainless steel by 2020, through our competitive edge of customer orientation and efficiency. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization’s basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com