FINLAND EIB
November 1st, 2004
BY KEITH NUTHALLTHE EUROPEAN Investment Bank (EIB) has lent Euro 85 million to Finland's Outokumpu, to co-finance a Euro 1 billion expansion of its stainless steel mill at Tornio, to the north of the Gulf of Bothnia. This project should by next summer more than double its annual capacity to 1.65 million tonnes in melting and hot rolling and 1.2 million tonnes in cold rolling. Part of Outokumpu's rationalisation of stainless steel production within Finland, Sweden and Britain, the financing follows an earlier EIB Euro 200 million loan for the Tornio expansion in ...
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