Outokumpu Stainless to complete “Project Double”
According to recent news in the market,
Finland based steel producer Outokumpu
Stainless is completing “Project Double” including consolidation of
stainless steel business of the company in this summer. The company is investing €680 million for the project taking place in Tornio,
Finland.
The new plant will have hot rolling capacity of 1 million tons and cold rolling capacity of 750'000 tons. The figures indicate an increase of 100% from the
production figures recorded in 2002.
Outokumpu expects
stainless steel demand to increase, especially in
Europe.
“Project Double” was initiated in late 2001 with the establishment of the second plant at the region.