- Arctial will complete the feasibility study by 2026–2027.
- The study will evaluate social, technical, commercial, and environmental impacts.
- Fortum supports the project with hedging strategies and electricity sourcing.
- Arctial has an LOI with Fingrid for main grid connection.
Project Overview
Arctial, a project company formed by Rio Tinto, Mitsubishi Corporation, Vargas, and Finnish Industry Investment Ltd (Tesi), is conducting a feasibility study for a low-carbon aluminum production plant in Kokkola's Kruunuportti industrial area. The study aims to evaluate the social, technical, commercial, and environmental impacts of the project, adhering to Finnish legislation. A decision on whether to proceed with the plant construction is expected by 2026–2027.
Partnerships and Support
Fortum is collaborating with Arctial to provide hedging strategies and electricity sourcing from its existing and new generation assets. Additionally, Arctial has signed a Letter of Intent (LOI) with Finland's transmission system operator, Fingrid, to secure a main grid connection for the project. These partnerships are crucial for the project's potential success and sustainability.
Regional Advantages
The Kokkola region offers significant advantages for the project, including established infrastructure, efficient logistics, and a strong tradition of industrial activities. The availability of green energy in the area further supports the project's low-carbon objectives. These factors make Kokkola an attractive location for the proposed aluminum production plant.
Local Government Perspective
The City of Kokkola is committed to attracting investments and enhancing competitiveness, as stated by Mayor Stina Mattila. The city aims to leverage its existing industrial ecosystem knowledge from the Kokkola Industrial Park to foster development in the Kruunuportti area. The local government is optimistic about the project's potential to contribute to a clean energy transition and advance future industries.
