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September 27, 2019

Finnpulp to raise its investment into a new bioproduct mill in Finland to EUR 1.6 billion

Finnpulp to raise its investment into a new bioproduct mill in Finland to EUR 1.6 billion

Finnpulp increases its investment assessment in bioproduct mill in Sorsasalo, Kuopio to EUR 1.6 billion, or nearly 200 million more than previously announced.

According to the announcement. The increase is based on technical studies completed during the basic design that ended in summer 2019. The amount has been updated now as the project is progressing towards investment decision and implementation. The previous estimate was made in 2016.

In addition to the increase in overall construction costs, the new cost estimate also includes a refinement of the plant plan, such as the preparation for the construction of a large bio-coal plant. With the need for Finnpulp’s 6.7 million cubic meters of raw wood, the mill will have a large amount of bark, about 10% of the amount of wood. The bark produced during the summer season cannot be optimally utilized in energy production.

Finnpulp’s new cost estimate has also prepared for tertiary cleaning to ensure compliance with permit conditions set by the Vaasa Administrative Court.

The plant will produce a maximum of 1.2 TWh of bio-electricity for the market. This is twice the amount needed by the city of Kuopio per year, or alternatively the amount of electricity needed by all the electric cars planned by the country’s government for 2030, a total of 250,000 vehicles.

The Finnpulp emission limit values ​​previously issued by the Regional Government Office and confirmed by the Vaasa Administrative Court are below or even below the BAT limits for discharges into waterways.

Finnpulp’s water emissions per tonne produced will be about 40% lower compared to modern Finnish pulp mills.

Finnpulp’s bioproduct mill will be the world’s largest softwood pulp mill. The mill is scheduled to start operation in 2021. The EUR 1.4 billion euro investment will create the annual production capacity of 1.2 million tons of pulp. Additionally, the facility will produce 60,000 tons of tall oil and one terawatt hour (TWh) of bioelectricity for the national electricity grid. The facility will use 6.7 million cubic metres of raw wood material per year.

About Finnpulp:

The company is a project initiated by private persons with a background in the forest industry. After the first financing phase, the project has gained support in the form of solid forest and industrial expertise. Finnpulp’s objective is to bring to the markets a new operator that will build the world’s most modern and efficient softwood pulp mill to Finland.

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