ANNOUNCEMENT 08 Mar 2018
In March 2018, the Nordic Investment Bank (NIB) signed a loan agreement with BillerudKorsnäs Aktiebolag to support its investment in a board machine for its paper and pulp production facility in Sweden.
NUMBER OF INTERVENTIONS
The Nordic Investment Bank, Sweden. BillerudKorsnäs Aktiebolag: https://www.nib.int/what_we_offer/agreed_loans/616/billerudkorsnas_aktiebolag
The Nordic Investment Bank, Questions & answers: https://www.nib.int/who_we_are/q_a
BillerudKorsnäs Aktiebolag: https://www.billerudkorsnas.com/about-us/billerudkorsnas-in-the-world
On 8 March 2018, the Nordic Investment Bank (NIB) and BillerudKorsnäs Aktiebolag signed a loan agreement having a total value of SEK 800 million (approx. USD 96.7 million). The loan will support the company's investment in a board machine for its paper and pulp production facility in Sweden. The new board machine is expected to have an annual production capacity of 550,000 tonnes of certain paper products including cardboard, kraft liners and liquid packing board. The maturity of the loan is 7 years.
According to the NIB, the supported investment in: "The new board machine will increase the annual production capacity of the Gruvön unit by around 10% and allow BillerudKorsnäs to cater to new markets. Further, the added capacity will open up opportunities for streamlining production and increasing efficiency. The forestry sector is an important base industry in the Swedish economy and accounts for significant employment, exports and added value."
BillerudKorsnäs Aktiebolag is headquartered in Sweden with production sites in Sweden, Finland and the United Kingdom as well as customer service centres in 16 around the world. The company is a pulp and paper producer.
The NIB is an international financing bank and is jointly owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank provides financing to private and public projects mainly located in the eight countries at attractive conditions. The eligibility criteria of NIB financing is that: "All projects financed by NIB should improve competitiveness and/or the environment, in accordance with NIB's mandate and eligibility criteria. Furthermore, outside the membership area, projects financed by NIB should be of mutual interest to the country of the borrower and the member countries."
A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.