Stora Enso, a renewable packaging products company, has secured a $473.25 million loan agreement with the European Investment Bank (EIB) to support greener packaging production at its site.
The company will use the funds to bolster its expansion into ever-more renewable, fibre-based consumer packaging boards.
Part of the loan will help finance Stora Enso’s €1bn investment in its Oulu mill in Finland. Set to commence operations in the first half of 2025, the mill is set to house a converted consumer board production line.
The new, long-term bilateral loan agreement features an amortizing structure, with the final repayment scheduled for 2036.
