Power company Leppäkosken Sähkö has planned to build a 50-million euro power plant in the Nokia area, due for completion in a bit over a year.
Recent economic sanctions against Russia, due to its involvement in the Ukrainian crisis, have now made the power company review its contracts in the project. The company CEO Juha Koskinen says lawyers have picked through the boiler acquisition contract in light of the volatile international situation.
Typically contracts overlook measures that would help businesses in the case that sanctions made their operations untenable.
Great demand for information
According to lawyer Lasse Vuola at law firm Castren & Snellman, bigger companies tend to be better prepared for sanctions than smaller ones, which often have not considered them at all.
Events hosted by the law firm on these issues have been huge successes. Indeed, while the outlook on Russian sanctions is rather stable at the moment, smaller and medium-sized companies are now feverishly seeking out information about contract stipulations.
Leppäkosken Sähkö CEO Juha Koskinen hopes that his company is contractually prepared for problems like delays that sanctions might bring about, with flexibility in schedules and alternative operation models.