Vanir and Blastr Steel in the development of the €4 billion project for the construction of the Inkoo production plant

Elizabeth Smith

Vanir and Blastr Steel in the development of the €4 billion project for the construction of the Inkoo production plant.

Avocom assisted, as Global Counsel, Citic Holding IF Group and HSBC HK in the negotiations with Blastr Green Steel, through its parent company Vanir Green Industries, for the implementation of a €4 billion financing protocol for the Inkoo steel mill.

Norwegian company Blastr Green Steel (Blastr), a leading developer of ultra-low C02 steel products, will build a green steel plant and integrated hydrogen production facility in Inkoo, Finland.

Blastr has entered into a letter of intent with Nordic energy company Fortum which gives it exclusive rights to use an industrial site and the investment will create up to 1,200 direct jobs in the operational phase. The start of production is scheduled for the end of 2026.

Avocom worked with a joint team of the Energy and Corporate Departments led by Prof. Avv. Francesco del Bene assisted by Avv. Prof. Piergiorgio Casati (London office) and with the collaboration of the company PrivatCap Oy, based in Helsinki, private capital group operating globally.

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