All agreed loans

Netherlands. Kemira International Finance B.V.

Date of loan: 29 Feb 2008
Country: Netherlands
Customer: Kemira International Finance B.V.
Amount in USD: USD 60 million
Amount in EUR: EUR 39.6 million
Maturity: 10 years
Business area: Industries and services

Project

The 10-year-maturity loan totalling USD 60 million has been granted to Kemira for financing the construction of a chemical plant at the site of Finnish Botnia's pulp mill in Fray Bentos, Uruguay to supply the pulp process with sodium chlorate, chlorine dioxide, oxygen and hydrogen peroxide. Raw material for the production of chemicals will be procured from local suppliers. Kemira is applying the best technology available, its own process know-how as well as Finnish and Swedish engineering and design to make the new plant fully compliant with EU environmental requirements. The plant will employ 25 persons. Kemira Oyj is a Finnish industrial group producing pulp and paper chemicals, other industrial chemicals, water chemicals as well as paints and coatings.

Sustainability summary

Kemira's new chemical plant has been an integral component of the Botnia pulp mill to account for its emissions, energy balance and potential benefits for the production of chemicals for third parties. This means that the chemical plant can not be treated as stand-alone from an environmental point of view. The important environmental, health and safety aspects of operating the chemical plant-the handling of hazardous chemicals, an emergency preparedness and response plan as well as safe transport to and from the site of chemicals-have been recognised as being in compliance with the best industry standards. All design and construction of the mill, including the chemical plant, is in accordance with best available techniques as defined by the EU and IPPC.