Forestry Company Stora Enso To Offer Sustainable Food And Personal Care Packaging With €435 Million EIB Loan
Business
The loan is for a major upgrade of Stora Enso’s manufacturing site in Oulu, where the company already invested €1 billion euro in reusable, fiber-based, and recyclable packaging production for consumer goods.
The new production line will allow Stora Enso to offer its worldwide network of clients an affordable substitute for packaging made of plastic, which is derived from fossil fuels that cause climate change and often ends up polluting soil, oceans and rivers globally.
By supporting a major bioeconomy project in Oulu, the EIB is also bolstering the competitiveness of EU industry, fostering economic growth and development opportunities in Northern Finland and strengthening the economic and social cohesion of EU regions.
The EIB loan contributes to several key EU initiatives including the European Green Deal, bioeconomy strategy and circular economy action plan.