The European Investment Bank (EIB) is providing a EUR 150 million loan to finance the construction, commissioning and operation of a containerboard plant with a capacity of 440,000 tonnes per annum in Ostroleka, located 120 km north-east of Warsaw.

The new containerboard plant will be based wholly on the use of recycled fibre as a raw material for packaging applications. Once in operation, the plant will contribute towards implementation of the EU policy to foster “resource efficiency”, i.e. producing more value by using less material. Work on the project have started and commercial operation is expected to begin in early 2013.

The EIB loan will help to promote an increase in paper collection rates and a greater utilisation of waste paper in Poland, thereby reducing the amount of paper destined for landfills and encouraging further improvements in the paper collection system.

The current project is a continuation of the very successful cooperation with the Stora Enso Group, the recipient of the EIB loan and promoter of the project. To date, the Bank has supported seven investments made by this group in various areas of the paper and forestry industries, including the co-financing of R&D activities.