NIB Nordic Investment Bank


Sweden. BillerudKorsnäs Aktiebolag

Date of loan: 8 Mar 2018
Country: Sweden
Customer: BillerudKorsnäs Aktiebolag
Amount in SEK: SEK 800 million
Amount in EUR: EUR 78.49 million
Maturity: 7 years
NACE sector / loan type: Manufacture of pulp, paper and paper products


Industries and services


The loan has been provided to finance BillerudKorsnäs investment in a new board machine at BillerudKorsnäs production site in Gruvön, Sweden.

The board machine will have an annual capacity of 550,000 tonnes of liquid packaging board, carton board, food service board and kraftliners and will allow the company to take advantage of the strong demand growth for these products, primarily in emerging markets. The investment of approximately SEK 6.8 billion is the largest investment in the company’s history. The new machine is expected to start running in 2019, and will be at full capacity by 2023.

BillerudKorsnäs AB is a Swedish pulp and paper manufacturer that specialises in packaging materials and solutions. The company is headquartered in Solna and is selling its products and services to customers in over 100 countries. BillerudKorsnäs employs approximately 4,300 people. Its production units are located in Sweden, Finland and the UK.

Fulfilment of NIB's mandate


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.


Environmental concerns relate to the increased use of raw materials, need for electricity from the grid, discharges of wastewater and emissions into the air.

Sustainability summary

An environmental impact assessment has been carried out for the project, addressing key environmental issues such as the supply of sustainable raw material, land issues, discharges of wastewater, waste management, energy use, noise and air emissions. The environmental permit was granted in November 2016.

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