November 18, 2016

Finnish and Chinese firms partner for pulp mill

The plant is set to start operating in 2020.
The plant is set to start operating in 2020.

According to media reports, Finnish Boreal Bioref has signed a letter of intent with the Chinese CAMC Engineering over an investment in a new pulp mill project.

News outlets suggest that the pulp mill project is worth 780 million euros. The Chinese company would become the majority owner of the plant, which is to be located in Kemijärvi, Lapland. The plant is set to start operating in 2020 with an annual pulp capacity of around 400 000 tonnes, most of which is likely to be sent to China.

“We have agreed on the timetable, and aim to make the final investment decision by the end of 2017,” Boreal Bioref CEO Heikki Nivala told Reuters.

According to Yle News, the two parties inked the deal on the planning and construction of the plant in the Belarussian capital Minsk. The final call to build the facility can only be made after an environmental impact assessment is completed.

The company has stated that the plant will create around 1 000 jobs.

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