Arctic Paper further invests in sustainable hydro power at Munkedal Mill
14 March 2018
On the 12th of March, the Management Board of Arctic Paper decided to invest 70 million SEK in an expansion of the hydro power plant at the Munkedal mill, strengthening the mill’s sustainability profile. The investment will double the amount of Arctic Paper Munkedal’s energy supply produced by environmentally friendly hydro power, which increases the mill’s energy self-sufficiency. Completion of the project is planned for the last quarter of 2019.
"We believe paper is a material for the future, both as a medium for communication but also as a natural material based on renewable resources. The expansion of hydro power gives us sustainable energy at a reasonable cost, which strengthens our competitiveness," says Per Skoglund, CEO of Arctic Paper S.A..
All necessary permissions are in place. During the construction phase the Group plans to finance the project out of its own funds. After completion of the project the costs will be refinanced with bank credit. Arctic Paper has already signed a letter of intent with Swedbank for refinancing.
Sustainability at Arctic Paper is always about the whole production process. The mill in Munkedal is an industry leader within water usage, using as littles as 3m3 per tonne of paper. Low, concentrated water flow requires less energy, and doubling the use of environmentally friendly hydropower is a step towards making the whole production process even more sustainable.
Arctic Paper Munkedal manufactures high quality uncoated, wood-free graphical paper, mainly under the Munken brand. Munken is one of the most renowned brands and the product range caters to a wide spectrum of printing needs, in particular book printing, advertising and marketing material. The mill has a production capacity of 160,000 tonnes.