Metsä Fibre, part of Metsä Group, made the investment decision to build a new bioproduct mill in Kemi, Finland. The value of the investment is €1.6 billion and it is the largest investment ever made by the Finnish forest industry in Finland. The construction phase will take approximately two and a half years, and the mill will be completed during the third quarter of 2023.
The Metsä Group’s bioproduct mill start-up will begin in mid-August, and pulp deliveries from the new mill to customers will begin in early September. The current pulp mill at Äänekoski – the company announced – will be shut down once the bioproduct mill starts up.
Bioeconomy is economic growth and new green jobs. A new evidence comes from Finland. The Research Institute of the Finnish Economy (ETLA) studied the impact of Metsä Group’s bioproduct mill being constructed in Äänekoski in terms of revenue, value added and employment. The impact of the largest investment to date in the history of Finnish forest industry has significant repercussions in the economy during both the construction and the operation of the mill.
According to ETLA’s calculations, the 1.2 billion euro investment in the bioproduct mill will increase the revenue of companies operating in Finland by around 2.4 billion euro at the construction stage, and it will generate value added that will be directly reflected in economic growth in the amount of nearly 1 billion euro during 2015–2018. The annual employment effects arising from construction during 2016 and 2017 total nearly 4,000 person-years when the effects on the value chain and consumption are included in the calculation. This equals 0.16 per cent of the total employed workforce in Finland.