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Stora Enso has secured a €435 million loan from the European Investment Bank (EIB), according to a company press release.
With the help of the loan, Stora Enso will renovate its mill in Oulu. In the future, renewable and recyclable packaging will be produced in Oulu. In total, the renovation of Stora Enso’s Oulu mill represents an investment of 1 billion euros.
Deputy Director General, European Investment Bank Thomas Ostroshin The loan is based on the desire to support a plastic-free world as well as a carbon-neutral and sustainable circular economy model.
The European Investment Bank is the European Union’s financial institution for long-term loans. It provides financing for investments that promote the achievement of the EU’s political objectives.
The owners of the European Investment Bank are the EU member states.
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