en.Wedoany.com Reported - Arctial has completed a pre-feasibility study for its low-carbon primary aluminum production project in Kokkola-Kruunupyy, Finland. Based on these results, the project partners—including Rio Tinto, Mitsubishi Corporation, Fortum, ABB, Vargas, Tesi, and Siemens Financial Services—have decided to proceed with more detailed technical, commercial, and financial planning.
Arctial CEO Torbjörn Sternsjö stated that completing the pre-feasibility study is a key milestone, but significant follow-up work remains in areas such as construction, energy, and the environment before a final investment decision is made. He noted that the project is progressing as planned and looks forward to continued collaboration with stakeholders.
Europe remains a net importer of primary aluminum. Driven by the energy transition, emission reduction targets, and growing demand for lightweight materials, the market for low-carbon aluminum continues to rise rapidly. Against the backdrop of geopolitical changes, strengthening Europe's internal resilience and secure industrial value chains is increasingly important for competitiveness and supply security.
According to an assessment completed by Ramboll Finland Oy, the proposed low-carbon primary aluminum smelter and rolling mill will bring significant employment, revenue, and tax contributions to Finland during both the construction and operational phases. The project will also provide flexibility to Finland's power grid, promote renewable energy investments, and foster the formation of new local industrial clusters.
Assessment data shows that the construction phase could cumulatively create nearly 30,000 person-years of employment. Over the expected operational period of more than 30 years, the facility will directly employ approximately 1,200 person-years annually, with total employment impact, including indirect effects, estimated at around 8,500 person-years per year.
The total project investment is approximately €4.7 billion, with the specific amount subject to adjustment as planning is refined. After operations begin, the total impact on Finland's GDP is estimated at 0.7%, with direct annual tax contributions of about €225 million and an overall tax impact exceeding €600 million.
Arctial Board Chairman Pekka Vauramo noted that the project is at the forefront of European reindustrialization, with the potential to create substantial employment in the Kokkola-Kruunupyy region and contribute to Finland's economic growth.
Arctial continues to advance toward a final investment decision for the manufacturing facility. The company submitted an environmental impact assessment in May 2026 and will hold public hearings in Kokkola-Kruunupyy in the summer of 2026.
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