03/30/2021 | Press release | Distributed by Public on 03/30/2021 00:04
March 30, 2021 at 9.00 am (EEST)
The Finnoo area next to the West Metro subway line is being developed into an urban and energy-efficient district, which will be home to approximately 17,000 residents in the future. Kemira's strategic research center has been located in this developing area for 48 years. The area of five and half hectares is owned by Kemira's Pension Fund Neliapila.
Kemira, Kemira's Pension Found Neliapila and the consortium consisting of Ahlström Capital, Kirkon Eläkerahasto and Aktia Life Insurance Ltd have signed a pre-agreement and a lease agreement to build a new research center for Kemira as part of the Green Chemistry Park concept. It is planned that the business premises concept of approximately 25,000 squaremeters of floor area will include state-of-the-art laboratory and office spaces next to apartment buildings and a large park. The value of Kemira and the consortium's investments will amount to approximately EUR 70-80 million in total. The new research center is scheduled for completion in the summer of 2024.
'The research center in Espoo has been the back bone of Kemira's R&D activities for decades and will be that also in the future. This is a significant strategic investment for us. Our objective is to develop completely new kinds of bio-based products and other new solutions so that our customers can enjoy more sustainable and renewable end products,' says Kemira's President & CEO Jari Rosendal.
'We're making long-term investments in the Helsinki metropolitan area and other centers of growth. Kemira's significant commitment to this project is extremely important to us as an investor. We're happy that we can develop this unique business and science center in Espoo with Kemira and our partners,' says Lasse Heinonen, CEO at Ahlström Capital. Ahlström Capital's real estate and forest investments are managed by A. Ahlström Real Estate Ltd.
'Inspiring, dynamic Espoo is one of the four cross-administrative development programs of the City of Espoo.
The promotion of internationally appealing business and experiment platforms that diversify the economic structure of Espoo is at the core of the City's growth strategy. I'm very pleased that we've got such an important investment in Espoo. It'll create new jobs and enable people to live in a new, sustainable way in the center of Espoo,' says Jukka Mäkelä, Mayor, City of Espoo.