Investment Decision and Financing for Bioproduct Mill
We advised Metsä Fibre, a part of Metsä Group, in securing financing for the construction of its new bioproduct mill in Kemi, Finland. Metsä Fibre has now made the investment decision to build the mill.
The value of the investment is EUR 1.6 billion and it is the largest investment ever made by the Finnish forest industry in Finland.
A Unique Bioproduct Mill Concept – Wood from Sustainably Managed Forests
The way Metsä Fibre renews its mills is based on the company’s unique bioproduct mill concept. In the concept, the renewable wood raw material and production side streams are used in full as different bioproducts, thus replacing fossil-based materials and fossil fuels. The wood used by the mill will be sourced from sustainably managed forests.
The Kemi bioproduct mill will produce some 1.5 million tonnes of softwood and hardwood pulp per year, as well as many other bioproducts. It will also produce 2.0 TWh of renewable electricity per year, which equals roughly 2.5 percent of Finland’s total electricity production.
The construction phase will take approximately two and a half years, and the mill will be completed in 2023.