Stora Enso has signed an agreement with the European Investment Bank (ECB) for a €165m loan to fund research and development.
The agreement is part of an ECB commitment to lend €230m to the company. A €65m loan, forming part of the total, was announced earlier in February.
Stora Enso’s chief finance officer Markus Rauramo said the money represented the third ECB loan to the company.
R&D work will concentrate on steering of networked strategic strategic research, as well as operations and product development in three research centres: Imatra in Finland, Karlstad in Sweden and Mönchengkadbach in Germany.
Last year, Stora Enso invested €71m in R&D.
