OUTOTEC OYJ PRESS RELEASE, NOVEMBER 3, 2011 AT 1:00 PM
Outotec signs ferrochrome plant delivery agreement with TISCO joint venture in China
Outotec has agreed with Shanxi Taigang Wanbang Furnace Charge Co. Ltd., a joint venture between Shanxi Jinzhong Industrial Trading Co. Ltd. and the world's largest stainless steel producer, Taiyuan Iron and Steel Co. Ltd. (referred to as TISCO), on the design and delivery of a new ferrochrome plant based on Outotec's proprietary technology to Jinzhong, China. Contracting parties do not disclose the contract value but deliveries with similar scope are typically worth of some tens of millions of Euros.
Besides engineering Outotec delivers the entire ferrochrome plant including an operating license and key equipment for a Steel Belt Sintering plant. In addition Outotec supplies the plant with two 69 MVA smelting furnaces with preheating technology for ferrochrome production. The plant annual throughput is 700,000 tonnes of chromite pellets and it produces 300,000 tonnes of ferrochrome per year. The new plant is estimated to become operational in 2013.
"TISCO has determinedly taken steps to reduce energy consumption and emissions in its stainless steel production facilities. Their investment in clean Outotec® Ferrochrome Process, which is best available technique (BAT) as rated by EU, demonstrates well their commitment to sustainable development. We see that the demand for sustainable technology is increasing in China. This is our second ferrochrome technology order in China within a short period of time", states Pertti Korhonen, CEO of Outotec.
For further information please contact:
Pekka Erkkilä, President - Ferrous Solutions business area
tel. +358 20 529 2143
Eila Paatela, Director - Corporate Communications
tel. +358 20 529 2004, +358 400 817 198