Finland-based stainless steel producer Outokumpu has announced that it has signed two long-term loan facilities totaling €200 million to finance its mine project in Kemi region in Finland. In its Kemi facility, Outokumpu mines chromite ore, an essential ingredient in stainless steel production.
In the company statement, it is said that approximately half of the project’s capital expenditure is expected to be financed by loans drawn under the new facility during 2019–2022 with planned maturity in 2030.