EURO 150m loan to help finance new Stora Enso plant in Ostroleka, Poland

Stora Enso have successfully secured a EUR 150m loan from the European Investment Bank (EIB). This loan will be used for to finance the construction, commissioning and operation of the new container board plant at Ostrołęka Mill, Poland. This new plant will have a capacity of 440k tonnes p.a and will be focusing on recycled fibre as a raw material for packaging applications and will be contributing towards the the EU policy to foster "resource efficiency", that is,  producing more value by using less material. Work has already started on this project - the main items have been purchased and construction work is progressing as planned, it’s expected to be completed by 2013, with the loan maturing in 2023.

Mats Nordlander, Executive Vice President, Packaging Business Area stated "Our co-operation with EIB is good and we are delighted with EIB's continuing support for our strategically important investments. The investment at Ostrołęka will strengthen our competitive position in corrugated packaging in the growing markets of Central and Eastern Europe, and is one more step in building sustainable and profitable growth for the Group. The new container board machine with a modern product and greater capacity than the machine it replaces will not only renew our product offering, it will also improve our overall cost position through efficient internal supply of light-weight containerboard made from recycled fibre,"

Posted Date: 03rd Jan 2012