Outokumpu's position regarding the news on the process initiated by Rosatom in Moscow

Outokumpu's position regarding the news on the process initiated by Rosatom in Moscow

Outokumpu comments the news about the possible process started by Rosatom in Moscow. Outokumpu has not received any official notification regarding the reported claim. We will review the grounds and demands of the claim if we receive proper information about it.

RAOS Project Oy, a company belonging to the Rosatom group, has already previously and groundlessly attempted to involve Outokumpu into the arbitration proceedings concerning the termination of the Hanhikivi-1 EPC contract. As we announced on February 14, 2025, the arbitral tribunal confirmed that it does not have jurisdiction to adjudicate claims brought by RAOS Project Oy and JSC Rusatom Energy International (JSC REIN) against Outokumpu. This decision terminated the arbitral proceedings with respect to Outokumpu.

From the beginning, Outokumpu has denied and continues to deny all grounds for liability related to the terminated nuclear power project, including the existence of any contractual relationship, obligation, or arbitration agreement between Outokumpu and any Rosatom company.

This is a complex international contractual matter, and Moscow is not the appropriate venue to address the related disputes.

Outokumpu also corrects certain significant factual errors in the news coverage. Outokumpu, as a minority owner, holds 23% of Voimaosakeyhtiö SF, which owns 97% of Fennovoima Oy. Fennovoima Oy was the owner in the Hanhikivi-1 project. Outokumpu is not a party to the EPC agreement or any other agreement with any Rosatom company related to the Hanhikivi-1 project.

Outokumpu Corporation

For more information: 

Outokumpu’s media desk, tel. +358 40 351 9840, e-mail media(at)outokumpu.com