Finland-based scrap processor Kuusakoski has announced that it plans to invest €25 million to build a carbon-free steel recycling plant in Veitsiluoto to meet the growing demand for recycled metals in Finland and Sweden.
The new plant, which is scheduled to be in operation in 2025, will increase the annual recycling capacity of the company by 25 percent.
With the investment, the company’s customers, such as Finland-based stainless steel producer Outokumpu, will have the opportunity to use cleaner recycled steel in their production, which can further reduce the carbon footprint of steel products. The investment is projected to reduce carbon emissions annually by over 150,000 mt throughout the entire supply chain.
Kuusakoski aims to achieve decarbonization of its operations by 2035.