Raahe Region
Clean, green and energetic
Planned green transition investments of 5-10 billion euros in the area include wind and solar energy farms and the SSAB Raahe steel plant’s renewal to produce fossil-free steel. Raahe region has already over 14 % of Finland’s wind power capacity (2024) and in the next ten years capacity will grow 600 %.
Raahe region offers investors and businesses safe and clean environment, versatile services, wide networks, and strong support from the local officials. The world is open for both people and goods thanks to great rail and road connections, one of Finland’s busiest ports, and Oulu Airport only an hour away. Extensive optical fibre network guarantees reliable and fast communications.
Investment opportunities
Besides metal industry, circular economy, nuclear energy and green hydrogen, the region has wide range of investment opportunities in several sectors. New commercial city centre, marine housing area, offshore wind hub in the Port of Raahe, a multi-purpose facility in the center of Pyhäjoki and tourist attractions in the City of Raahe are currently seeking project partners.
Contacts:
- Raahe Region, Development Director Pasi Pitkänen tel. +358 40 135 6750, pasi.pitkanen [at] raahe.fi (pasi[dot]pitkanen[at]raahe[dot]fi)
- Raahe Region, Invest in Specialist Risto Rova tel. +358 401 356 967, risto.rova [at] raahe.fi
TOP 5 reasons to invest in Raahe Region
1 Momentum – big forces on the move
Massive investments in energy and industry sectors boost constructing and commercial sector, create new businesses and jobs and increase the demand for services and housing in Raahe region.
As a new NATO member, Finnish Government has also recognised the significance of northern Finland, for example in trade and security of supply, and launched a programme to survey and develop the infrastructure as well as to improve logistics connections in northern Scandinavia.
2 Stability makes investing safe
Finland has one of the most reliable investing environments in the world. Strong democracy and Nordic welfare model guarantee predictable and fair services in the society for both individuals and businesses. Finns are considered honest, straightforward and solution oriented, which also shows in business culture in Raahe region.
3 Experience in major projects
New investors benefit from Raahe region’s wide understanding of big investment projects in several fields. Local officials offer strong support in navigating the regulatory framework and provide essential connections to ensure smooth progress in investment projects of all sizes.
4 Location is everything
Besides logistical benefits and working connections, Raahe region has great education and studying possibilities, charming living environment, cooperative networks, and versatile services for businesses. Thanks to region’s compact size, distances are shorter, building relationships is easier and reaching goals is faster.
5 Strong forerunners
Raahe region’s green transition investments are essential in meeting Finland’s carbon neutrality target by 2035. SSAB, the biggest steel producer in the Nordics, is renewing Raahe plant to hydrogen-based process to produce fossil-free steel. While the metal industry has been the region’s flagship over the past decades, newer sectors include for instance industrial wood construction and food industry.
New commercial city centre
Investment: housing, business and retail space
Phase: seeking project partners
City planning: completed, planned area approx. 3,5 hectares
City plan Akm 245 Raahe commercial city centre, map (pdf)
Estimated schedule: 2025–2030
Investment size: total around 85 million euros
Key actors:
- OP Jokirannikko (cooperative bank of OP Financial Group)
- Rakennus MiiRA (local construction company of Miilukangas Group)
- Osuuskauppa Arina (cooperative retail store of S Group)
Description: The Old Town and nearby sea give Raahe city centre unique charm and characteristic. City parks are well cared for, public services near and the centre is easy to reach for pedestrians and vehicles alike. Event House Raahe, small boutiques, Raahe Theatre, hotels, restaurants and stores serve residents and visitors all in walking distance. In addition to new housing and commercial space planned in the city centre, building a new campus area for around 1000 students closer to the centre is under consideration.
City plan increased the building right to 8000 m2 floor area in OP bank’s block (23). The new building will have both commercial space and housing, the ratio and details are determined in project planning phase. OP’s own business premises will locate in the building. OP is currently seeking a partner to lead the project, acquire capital and leaseholders. The total investment is around 30 million euros.
Osuuskauppa Arina (block 15) is planning to modernise retail store (max. 10 000 m2 floor area) and is open to bring new services to the premises with suitable partners. The renewal will start around 2025 and the total investment is around 5-10 million euros. Arina is also planning to build a new Prisma Shopping Center in Raahe 2024–2025.
MiiRA has several different size real estates in the city centre. Two of the sites for housing and commercial space are in block 20 (one block north from the park). Location is ideal for businesses and residents who appreciate city life, but still want to have a short distance to outdoor activities. Total investment is 30 million euros and presale for new partners is open now. Construction begins without delay once suitable partner is found.
Contacts:
- OP, CEO Kalle Arvio, tel. +358 10 257 6210, kalle.arvio [at] op.fi
- MiiRA, CEO Kalevi Niskala, tel. +358 44 771 3535, kalevi.niskala [at] rakennusmiira.fi
- Osuuskauppa Arina, Business Location Manager Anne Niemi, tel. +358 44 788 6209, anne.niemi [at] sok.fi (anne[dot]niemi[at]sok[dot]fi)
Mettalanmäki Shopping Centre Site
Investment: commercial, retail
Phase: seeking investors and partners
Estimated schedule: 2025–2027
Investment size: around 90 million euros
City planning: completed, planned area approx. 16 hectares
City plan Akm 216 Mettalanmäki shopping centre, map (pdf)
Key actors: City of Raahe
Description: Mettalanmäki commercial site, is located in the immediate vicinity of the busy E8 main highway and not far from the Raahe city centre. It provides excellent opportunities for commercial and retail type of investments for about 9,5 hectares of land ready for construction. Osuuskauppa Arina’s new Prisma Shopping Centre will be opening during at the site 2025 and is located in adjacent premises. The total building right for the site is 40 000 m2, of which 29 000 m2 is currently available for reservation.
Contacts:
- City of Raahe, City Geodesist Mikko Moilanen, tel. +358 40 135 6952, mikko.moilanen [at] raahe.fi (mikko[dot]moilanen[at]raahe[dot]fi)
- City of Raahe, Site Engineer Juhani Leinonen, tel. +358 40 830 3194, juhani.leinonen [at] raahe.fi (juhani[dot]leinonen[at]raahe[dot]fi)
Marine housing area
Investment: housing
Phase: first building in presale in spring 2024
Estimated schedule: 2024–2030
Investment size: 100 million euros
City planning: completed, planned area approx. 5,9 hectares
City plan Akm 215 Kaupunginlahdenranta map (pdf)
Key actors:
- Rakennus MiiRA (local construction company of Miilukangas Group)
- City of Raahe
Description: The plan includes versatile and high-class options for living. Proximity to the sea, nature and city services are valuable assets. Seamless connection to the adjacent Pikkulahti recreation area offers residents exceptionally great outdoor activities. Sea and park views maximise cozy living. Estimated number of residents is over 900.
The total floor area for housing is 43 650 m2 and the plan has also reservation for a daycare centre for 100 children. Commercial services, such as local shops or other business premises, can locate on street level in blocks 3043, 3045 and 3036.
Construction of the area starts from block 3043, the block of flats closest to the canal. Rakennus MiiRA opened presale in spring 2024.
Inquiries of available plots from the City of Raahe.
Contacts:
- MiiRA, CEO Kalevi Niskala tel. +358 44 771 3535, kalevi.niskala [at] rakennusmiira.fi
- Miilukangas, CEO Pekka Miilukangas tel. +358 50 417 7609, pekka.miilukangas [at] miilukangas.fi (pekka[dot]miilukangas[at]miilukangas[dot]fi)
- City of Raahe, City Geodesist Mikko Moilanen, tel +358 40 135 6952, mikko.moilanen [at] raahe.fi (mikko[dot]moilanen[at]raahe[dot]fi)
- City of Raahe, Site Engineer Juhani Leinonen, tel. +358 40 830 3194, juhani.leinonen [at] raahe.fi
Green Port of Raahe
Investment: port infrastructure and development of port’s capabilities, capacities and facilities in relation with green transition
Phase: seeking investor partners
Estimated schedule: 2025–2030
Investment size: total around 200 million euros
City planning: largely completed
Key actors:
Description: Port of Raahe is the third busiest general cargo port in Finland with around 6 MTON annual volume, and one of the most Northern Sea Ports in Europe. The port’s future investments serve local and regional industries and have great value in advancing the green transition by providing a modern operating environment in strategic location for offshore wind power, green hydrogen economy and related value chains.
Port of Raahe consists of three year-round operating harbours: Lapaluoto harbour, Deep harbour, and SSAB industrial harbour. The industrial harbour is designated only for the operations of the steel company SSAB. Presently, there are eight covered warehouses with a total area of ca. 30 000 m2 and ca. 30 hectares of outdoor storage areas. The Port of Raahe can handle a large variety of cargo types, including dry bulk and large project cargoes such as windmill projects.
Finnish sea areas have remarkable potential for wind power production, which is also significant in reaching national sustainable energy goals. Port of Raahe plays a crucial role in growing wind power production. Offshore wind power capacity in Raahe region is even 23 GW (1500 turbines). Published new onshore and offshore projects in the region include capacity around 5,8 GW (500 turbines). Proactive and timely investments related to functional port infrastructure are essential to enable construction and operation of wind power production.
SSAB Raahe steel plant is the most important port user. SSAB is planning to transform its production to fossil-free by around 2030. The plan is to transform the site in Raahe into new cost-effective mini-mill, with electric arc furnaces, integrated rolling and further processing. The new production site requires also new facilities in the Port such as a new all-weather terminal (AWT) for 10 000 dwt vessels and terminals for SSAB steel products.
Contacts:
- Port of Raahe, Managing Director Seppo Vehkaoja tel. +358 44 972 9432, seppo.vehkaoja [at] raahe.fi (seppo[dot]vehkaoja[at]raahe[dot]fi)
Pyhäjoki House
Investment: office building, business, public services
Phase: seeking project partners
City planning: completed, floor area 5182 m2 (option up to 9400 m2)
Architect design: Prof. Janne Pihlajaniemi
Estimated schedule: 2024–2030
Investment size: 30 million euros
Key actors: Pyhäjoki municipality
Description: Pyhäjoki House is a project to construct a multi-purpose facility in the center of Pyhäjoki, along the riverbank. This project already has an architectural plan. We are seeking future investors and implementers for the vibrant municipality of Pyhäjoki.
The architectural drawings and layout of Pyhäjoki House allow for an immediate start to the project. Alongside serving as a visitor center for the nuclear power plant, the building complex will feature cultural, sports, and leisure facilities, as well as accommodations, educational, and event venues. Pyhäjoki House will not only operate as a visitor center but also as a new hub for residents of Pyhäjoki, attracting new visitors and service users.
When it comes to the nuclear power plant, the construction site is already pre-built and zoned for energy production or other similar-scale industries in Pyhäjoki. Therefore, the foundation of Pyhäjoki House's business is already established.
Pyhäjoki is a municipality with approximately 3,000 residents situated on the coast of the Bay of Bothnia, 100 km from Oulu to southwest, adjacent to Raahe.
Contacts:
- Pyhäjoki municipality, Municipal Mayor Matti Soronen, tel. +358 40 359 6001, matti.soronen [at] pyhajoki.fi
- Pyhäjoki municipality, Economic Development and Vitality Tapani Tuominen tel. +358 40 359 6007, tapani.tuominen [at] pyhajoki.fi (tapani[dot]tuominen[at]pyhajoki[dot]fi)
Tourist attractions
Investment examples: sauna village, accommodation, services
Description: Tourism is a rising sector in Raahe region, and it has plenty of possibilities for new actors. Sustainability plays a key role in developing the tourism industry in the area, as idyllic environment and delicate nature are the crown jewels of Raahe region.
The area is best known for Old Town Raahe, which is one of the best-preserved 19th-century wooden towns in Finland, and awarded Raahe archipelago only a short cruise from the town.
For instance, the sauna village is in Raahe city plan of Pikkulahti recreation area next to the new marine housing area. City plan Akm 240 Pikkulahti map (pdf), planned area approx. 42,5 hectares.
Contacts:
- Visit Raahe Tourism Manager Terhi Eteläinen tel. +358 40 130 3884, terhi.etelainen [at] raahe.fi