Plans to establish a green steel plant with an integrated hydrogen production facility in Inkoo, Finland, were announced by Norwegian company Blastr Green Steel on Tuesday.
The €4 billion investment is expected to create up to 1,200 jobs and production is set to start by the end of 2026. The plant, together with its hydrogen facility, will be among the largest industrial investments ever planned in Finland.
According to the company’s estimates, in Europe alone, the demand for decarbonised steel is expected to reach 50 million tons by 2030, nearly one-third of the current European steel demand.
Currently, the steel industry produces around 8% of the world’s CO2 emissions. In the press release, Blastr said its aim is to achieve 95% lower CO2 emissions compared to the conventional manufacturing process.
Said Hans Fredrik Wittusen, CEO of Blastr Green Steel: ”[Finland] has an ambitious low-carbon target, supportive and predictable operating conditions for the green industry, fossil-free energy [..] Inkoo was selected as our location due to its high-quality infrastructure and access to clean power.”
(Pekka Vänttinen | EURACTIV.com)
Source: euractiv.com
