The European Investment Bank (EIB) has announced that it will provide €18 million financing to cover Finland-based Tapojarvi’s investment in an innovative slag processing and valorization plant in Umbria, Italy.
The project will cover the initial testing and ramp-up phases to transform the slag into valuable by-products and reduce landfilling. This will entail the deployment of advanced manufacturing technologies, introducing innovative recycled products mainly for construction use, and reducing the consumption of natural resources and raw materials. Hence, the project promotes the shift towards a circular economy that reduces the environmental impact of stainless steel manufacturing.
Moreover, the project will increase Tapojarvi’s competitiveness and boost job creation in Umbria, an Italian cohesion region with higher unemployment rates than the EU average. It is estimated that the project will contribute to creating more than 500 jobs during the implementation phase.