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.
Finnish company UPM takes the next transformative growth step and enters the biochemicals business by investing in a biorefinery at Leuna, Germany. The biorefinery will produce a range of 100% wood-based biochemicals which enable a switch from fossil raw materials to sustainable alternatives in various consumer-driven end-uses. The investment opens totally new markets for UPM with large growth potential for the future.