Arctial Launches Feasibility Study for Low-Carbon Aluminum Production in Kokkola

The Kruunuportti industrial area in Kokkola has once again drawn international interest. The international industrial, energy and climate tech companies Rio Tinto, Mitsubishi Corporation, Vargas and Finnish Industry Investment Ltd (Tesi) have set up a project company called Arctial to conduct a feasibility study on building a low carbon aluminum production plant in Kokkola.

Fortum will support the project company in hedging strategies related to the potential facility and electricity sourcing from Fortum’s existing and new generation assets. Arctial has also signed a Letter of Intent (LOI) with Finland’s transmission system operator Fingrid to secure main grid connection for the project.

The feasibility study now being undertaken will assess the social, technical, commercial and environmental impacts of the implementation of the project in accordance with the Finnish legislation. The companies expect to make a final decision on building a production plant once the feasibility study is completed in 2026–2027. The project company Arctial will finance the feasibility study phase.

The project company sees the region’s infrastructure and logistics, the availability of green energy and Kokkola’s long traditions of industrial activities as the key advantages of the Kokkola region.

“Goal-orientated attraction of investments and ensuring competitiveness have been included in the strategy of the City of Kokkola. We already have strong knowledge on how industrial ecosystems function from Kokkola Industrial Park, and we want the Kruunuportti area to develop as well”, says the Mayor of Kokkola Stina Mattila. “We are happy to be involved in promoting a clean energy transition project that is partnering with international companies. We are looking forward to seeing how this technology can be used to develop the industries of the future."