The Adviser to the investment activities of Pulp Mill Holding: Signing of loan agreements with UniCredit Group is an important step in the modernization program of APPM

Signing of two loan agreements between Pulp Mill Holding (Austria) and UniCredit Bank Austria AG for a total amount of more than 80 million euros is an important step in the modernization program of Arkhangelsk Pulp and Paper Mill.  Vladimir Krupchak, the Adviser to the investment activities of Pulp Mill Holding made such a comment on the financial transaction.

The relevant financial documents were signed on 29 June 2017 in Vienna (Austria) at the Board of Directors of JSC “Arkhangelsk PPM”.

The loans raised will be spent on financing of the technical re-equipment program of Arkhangelsk Pulp and Paper Mill during 2017-2018 years, including construction of a new evaporator plant and reconstruction of the Board machine No. 2. Both projects are an important part of the priority investment project in forest development “Reconstruction of Board Production” registered in the Ministry of Industry and Trade of the Russian Federation.

It must be recalled that total investments of APPM up to 2020 will exceed 23,0 billion rubles. The mill is implementing the second stage of the priority investment project “Reconstruction of Board Production” included by the Ministry of Industry and Trade of the Russian Federation into  the list of the priority projects for the  Russian economy, the cost of which is 8.8 billion rubles.