Outokumpu to restart project to double ferrochrome output

Finnish stainless steel and ferroalloy producer Outokumpu announced on June 9 that it has decided to restart the project to double the group's ferrochrome production capacity in Finland, with an investment of €440 million, to meet high growth expectations in the ferrochrome market and the rising demand especially in China. The company also stated that work on the project will start immediately.
 
Commenting on the investment, Outukumpu CEO Juha Rantanen said, "We regard our own ferrochrome as a unique competitive advantage. This expansion of our production capacity will make the group self-sufficient. Additionally it will provide us with new growth opportunities. We are confident that customers will be very interested in high-quality ferrochrome that is produced energy-efficiently and with lowest emissions. We can now establish a permanent position in the ferrochrome market and build long-term customer contracts."
 
As SteelOrbis previously reported, the original investment was decided in June 2008 but was put on hold in December 2008 due to the financial crisis and unsecure market conditions. This investment doubles the ferrochrome production in Outokumpu's Tornio works to 530,000 mt annually. It enables the group to cover its internal needs and supply the global market with over 200,000 metric tons of ferrochrome per year.
 
The expanded capacity is expected to become operational during the first half of 2013 with capacity ramped up in 2015.