Borenius advised Tesi on its investment into Arctial – A major low-carbon aluminium production investment in Finland

We advised Tesi (Suomen Teollisuussijoitus Oy) on the establishment of a project company, Arctial, to explore the feasibility of a significant low-carbon aluminium production investment in Finland. The project aims to construct a new production facility in the Kokkola and Kruunupyy region, which would be the first new primary aluminium production plant in continental Europe in over 30 years.

The project seeks to increase the supply of low-carbon aluminium in Europe, meeting the rising demand and supporting the region’s industrial capabilities. It also aligns with strategic objectives of reducing industrial emissions and facilitating the energy transition in Europe.

Other participants alongside Tesi in the project include Rio Tinto, Mitsubishi Corporation, Vargas, and Fortum, with Rio Tinto providing its industry-leading AP60 technology and Fortum supporting long-term electricity hedging strategies.

Tesi is Finland’s state-owned investment company, focusing on economic growth, renewal, and investment promotion. It operates in the private equity sector, investing in growth companies and private equity funds.