Reportedly, Finish stainless steel producer Outokumpu announced to start its new ferrochrome works at its plant in Tornio.

It’s learned that the company has invested approximately €410 million for the project.

Outokumpu planned to double its ferrochrome production capacity to 530,000 tons by 2015.

However, the company has expected to reach ferrochrome production capacity to 400,000 tons this year.

In the meantime, the plant will be the world's biggest ferrochrome furnace and it will be able to meet the majority of Outokumpu's ferrochrome needs.