Board of Directors and CEO appointed for Fennovoima

Outokumpu’s CEO Juha Rantanen was appointed Chairman of the Board and Tapio Saarenpää CEO of the nuclear power company Fennovoima.

Tapio Saarenpää, M.Sc. (Eng.), MBA, 46, has been appointed CEO of Fennovoima Oy. He will join Fennovoima on August 1, 2007 from Rauman Energia Oy where he is currently CEO. Prior to this he worked as Deputy Director for the Olkiluoto 3 project and earlier as Project Manager in the OL 3 feasibility project for Teollisuuden Voima Oy.

Outokumpu’s CEO Juha Rantanen was appointed Chairman of the Board. Currently, the members of the Board of Directors Håkan BuskheHenry FagerströmTom NiemiJuha RantanenPekka RantanenDirk Steinheider and Stefan Storholm represent the founding partners of Fennovoima: Outokumpu, Boliden, Rauman Energia, Katternö Group and E.ON. The composition of the Board of Directors will be completed when the ownership base is finalized.

- Fennovoima’s nuclear power project is important to Finland as a whole. The project will increase competition in the electricity market as well as the supply of power, which will benefit both industrial and retail electricity users. It is exciting to join a project of this magnitude, Tapio Saarenpää said.

Site selection process also proceeds

Fennovoima has been moving forward with the site selection process. The first phase of the process resulted in 30 viable sites from technical and land ownership points of view. The selection criteria included sufficient distance to densely populated areas and nature reserves, access to cooling water, and possible connection to the high voltage grid.

– We have already had preliminary discussions with a number of municipalities, among others, Himanka, Ii, Kemi, Kemijärvi, Kristiinankaupunki, Loviisa, Pyhäjoki, Raahe, Simo, and Vaala, but we wish to emphasize our interest in opening a dialogue with other interested municipalities, as well, said Mikko Rintamäki, Fennovoima Project Director.

Fennovoima expects to select the site alternatives for which it will conduct Environmental Impact Assessments in the autumn of 2007. The assessment process is expected to last approximately two years.

After that, Fennovoima will apply to the Council of State for the Decision-in-Principle to construct a new nuclear power plant.

Further information:
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Fennovoima CEO Tapio Saarenpää, will be available for the media on June 29, 2007, from 10:30 to 12:30, in Hotel Marski, Conference Room Filip 2, Mannerheimintie 10, Helsinki, Finland
Mobile: +358 50 568 1445

Fennovoima Project Director Mikko Rintamäki
Mobile: +358 40 558 2289

Outokumpu, SVP – Corporate Communications, Eero Mustala
Mobile: +358 40 504 5146