Stora Enso has secured a Euro 435 million loan from the European Investment Bank (EIB) to support its expansion in fiber-based consumer packaging. This financing will aid the company's Euro 1 billion investment in the Oulu mill in Finland, which is set to feature a state-of-the-art production line for packaging materials by 2025.
The loan, structured with amortisation and final repayment in 2036, will enhance the company’s debt maturity profile. Stora Enso aims to transform the Oulu mill into one of Europe’s most advanced and cost-efficient packaging production sites. The new facility will focus on producing renewable and circular packaging solutions to replace plastics in food and personal care products. Wood fiber for these products will be sourced from sustainably managed Nordic forests.
“This investment supports our strategy in renewable packaging by providing new volume for the growing market,” said Hannu Kasurinen, Executive Vice President, Packaging Materials Division. Kaarlo Höysniemi, SVP Group Treasury, highlighted the loan's role in providing financial flexibility and supporting sustainable growth.
With its new production line in the Oulu Mill in northern Finland, Stora Enso will increase its capacity and produce 1.2 million tonnes of sustainable packaging materials in one site starting from 2025.
