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Australasian Timber - - NEWS -

Pulp mill deal

Bo­real Bioref Oy, a new Fin­nish com­pany, has signed a let­ter of in­tent with China’s CAMC En­gi­neer­ing over an in­vest­ment in a new 780 mil­lion pulp mill project. CAMC En­gi­neer­ing would be­come the ma­jor­ity owner of the new plant in Kemi­jarvi, north­ern Fin­land, which is sched­uled to start in 2020 with an an­nual pulp ca­pac­ity of around 400,000 tonnes. Most of the pulp is likely to go to China, Bo­real said. The pa­per mar­ket con­tin­ues to de­cline in Europe, but pulp made from north­ern spruce and pine has a brighter out­look as it is needed for tis­sue and pack­ag­ing board - prod­ucts seen grow­ing on the back of Chi­nese de­mand.

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