Reference: 20160146
Release date: 25 April 2017

Promoter – Financial Intermediary




The operation consists (i) in the finance of selected renewable energy, energy efficiency and environmental protection measures within an investment programme in Sweden consisting of the upgrade of a pulp mill in Timrå and (ii) the replanting and regeneration of about 68,000 ha of forest, the construction of 4,250 km of forest roads and an upgrade of five forest terminals.


The project will contribute to higher energy efficiency and innovative process optimisation. The operation also aims to upgrade and renew regional forest resources and will enhance and create employment and have significant multiplier effects on the regional rural economies.


Proposed EIB finance (Approximate amount)

EUR 150 million

Total cost (Approximate amount)

EUR 684 million

Environmental aspects

The mill modernisation project falls under Annex I of Environmental Impact Assessment (EIA) Directive 2011/92/EU. A full EIA as well as a permit under the Industrial Emission Directive 2010/75/EU is required. Some of the investments planned within the project programme for modernisation and renewal of forest assets may fall under Annex II of the EIA Directive and would require a screening decision by the competent authority. Details of the permitting procedures, potential impact on nature conservation sites close by and sustainability and origin of the biomass will be further assessed at appraisal.


The Bank will require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation.


Signed - 17/11/2017


Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Sweden Industry Agriculture, fisheries, forestry