Metsä Fibre is planning to invest approximately EUR 1.2 billion to set up a bioproduct mill in the area of the existing pulp mill at Äänekoski, Finland.
“The mill area has been prepared for the construction work, an environmental permit and other permits currently required for the construction have been obtained, the financing solutions have been agreed, and the main partners have been selected,” said, Kari Jordan, President and CEO, Metsä Group.
The bioproduct facility will have the capacity to produce 800,000 tonnes softwood pulp and 500,000 tonnes hardwood pulp annually. The company will export the softwood pulp to Europe and Asia.
Jordan added, “The steady growth in the demand for northern softwood pulp on the global market is the main driver for the investment. We aim to strengthen our leading position in this market, increase Metsä Fibre's business, and improve our profitability in the long term.”
The construction of the new facility is scheduled for completion in the third quarter of 2017
