Arctial completes pre-feasibility study – Tesi one of the investors in the industrial project company
Arctial – an industrial partnership established by Rio Tinto, Mitsubishi Corporation, Fortum, ABB, Vargas, Tesi and Siemens Financial Services – has completed its Pre-Feasibility Study for low-carbon primary aluminium production in the Kokkola-Kruunupyy region of Finland.
Based on the study results, the partners have decided to proceed with more detailed technical, commercial and financial planning. The Environmental Impact Assessment was submitted in May 2026, with public hearings in the region scheduled for summer 2026.
Europe remains a significant net importer of primary aluminium, while demand for low-carbon aluminium continues to grow rapidly, driven by energy transition and ambitious decarbonisation targets. In a changing geopolitical environment, strengthening resilient and secure industrial value chains is becoming increasingly important for both industrial competitiveness and supply security. If realised, the Kokkola-Kruunupyy facility would be the first new primary aluminium production facility in continental Europe in over 30 years.
Tesi is on board Arctial as a local anchor investor. In line with its industrial strategy, Tesi accelerates the development of new sectors by investing in projects strategically important for Finland. This, in turn, strengthens the country’s security of supply, national security and resilience. Arctial is part of Tesi’s growing industrial portfolio, which also includes low-carbon steel production and renewable fuel.
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Additional information and inquiries for interviews:
Linda Jansson, Communications Manager, Arctial
linda.jansson@arctial.com
+358 44 5370 254
Tesi (officially Finnish Industry Investment) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies, and to new industrial scale businesses. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter
