Fennovoima to terminate EPC contract with RAOS Project

This means that the cooperation with the RAOS Project is terminated with immediate effect and both the design and licensing work and works at the Hanhikivi 1 site with the end of the RAOS project.

The termination of the EPC contract is estimated to have a significant employee impact on Fennovoima and is expected to affect supply chain companies and the Pyh joki region. Our main objective is to support our employees by keeping them informed and working in close cooperation with both our employees and employee representatives. In addition to that, we focus on preserving the site, says Joachim Specht, CEO of Fennovoima.

The decision to terminate the EPC contract with RAOS Project is not lightly made. There are complexities and decisions made only after thorough considerations in a large project. The negative impacts are fully acknowledged and we do our best to mitigate those effects, says Esa Hrm l chairman of the Board.