Recycling pioneer Kuusakoski is set to invest EUR 25 million for construction of a 100 percent carbon free steel recycling plant, located in Veitsiluoto in the Northern Gulf of Bothnia, Finland. The plant is projected to result in reducing additional 150,000 tonnes of CO2 emissions annually throughout the entire supply chain and is scheduled to be in operation in 2025.
Kuusakoski plans to invest EUR 25 million to build a steel recycling plant that will operate 100 percent carbon free. The plant will be located in Veitsiluoto, a well-known industrial site located in the Northern Gulf of Bothnia, Finland. The new plant will be built in Veitsiluoto, Kemi and will increase the annual recycling capacity of Kuusakoski by 25 percent or 150,000 tonnes. The port connection effectively links sea freight to rail and road transport. The investment is projected to result in over 150,000 tonnes of avoided CO2 emissions annually throughout the entire supply chain.
The plant will produce significantly higher levels of purity in its recycled raw materials and have improved separation capabilities due to new technology used in the pre-treatment and analysis of the material. The total value of the investment is EUR 25 million, of which EUR 2.8 million will be financed by Business Finland from Recovery and Resilience Facility funding. The plant’s construction is planned to begin next year and it is scheduled to be in operation in 2025.
This plant is part of Kuusakoski´s multi-year green investment program, with a target of carbon free operations by 2035. The Veitsiluoto recycling plant is just one concrete step on the company’s carbon roadmap. “We are seeing the steel industry beginning to move towards carbon free production. Our new plant will bring with it carbon free processing, which will enable our customers to further reduce their climate impact throughout the value chain”, says Mikko Kuusilehto, President and CEO.