Estonian investors eye €1 billion pulp mill

Photo: Tartu Municipality

A group of Estonian investors have unveiled plans to build a new pulp mill under an investment worth some €1 billion. The investors have applied for a permission to launch the investment to the Estonian Ministry of Finance, reports local broadcaster ERR. Under the plan, the new facility is to be located close to Tartu, the country’s second largest city, in Estonia’s eastern part.

The pulp mill is scheduled to begin manufacturing operations in 2022. The project is to be supported by a strategic investor and foreign banks.