Joddböle V zoning plan in Inkoo approved, landowners sign land use agreement – significant progress for steel plant project

The Joddböle V zoning plan enables the construction of a low-emission steel mill and a hydrogen production plant in Joddböle industrial area in Inkoo, Finland. The plan also allows for other industrial activities alongside the steel mill, with the potential to utilize Blastr's operational side streams. Next, Blastr's Inkoo project will move to the permitting phase, where Blastr will apply for environmental, water, and building permits for the project.

"The development of the Joddböle industrial area is important to us and other actors in the area. We have cooperated in good faith, and I believe that together, we have created a solid foundation for the responsible and sustainable implementation of the project," says Antti Kaikkonen, Blastr's Country Manager for Finland.

In April, the Finnish government decided to allocate 6 million euros to strengthen the growth and investment conditions in the Inkoo area through selected infrastructure investments.

"Blastr's project is significant both regionally and nationally. It is encouraging that the government recognizes the potential of the Joddböle industrial area as an engine for sustainable growth," Kaikkonen states.

Significant land use agreement for Inkoo

The land use agreement between Blastr, the Municipality of Inkoo, and the landowners Fortum, Inkoo Shipping, Rudus, and the National Emergency Supply Agency is an essential part of the zoning of the Joddböle industrial area. In the agreement, the parties agree on the allocation of costs for municipal structures related to the implementation of the Joddböle V zoning plan.

According to the land use agreement, Blastr and the landowners will contribute a total of 10.4 million euros to the Municipality of Inkoo's infrastructure costs. Blastr's share of this is over 6.5 million euros. The funding covers, among other things, the development of municipal engineering, water management, and traffic arrangements in the area.

"The cooperation agreement strengthens Blastr's long-term commitment to Inkoo and its community – both during construction and in the coming years of operation," Kaikkonen concludes.

For further information, contact:

media@blastr.no
+358 50 465 4767

About Blastr Green Steel

Blastr Green Steel (Blastr) aims to decarbonize the steel industry by creating an integrated green steel value chain that leverages Nordic advantages. By utilizing local raw materials and CO₂ free energy and applying a circular economy thinking throughout the value chain, the company aims to produce 2.5 million tonnes of cost-competitive, ultra-low CO₂ steel, with ~90% lower scope 1-3 emissions than conventional steel production. Blastr Green Steel will be one of the largest industry start-ups in the Nordic region. For more information, visit www.blastr.no.

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