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Released February 07, 2022 | NEW DELHI
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Researched by Industrial Info Resources (Sugar Land, Texas)--UPM Group, a leading manufacturer of biofuels and specialty papers, is set to invest $1.12 billion on seven capital projects across Europe, including two unit additions worth $246.9 million and three grassroot projects worth $868.9 million, according to Industrial Info's Global Market Intelligence (GMI) Project Database. Subscribers can click here for a full list of detailed project reports.
UPM Biochemicals, a subsidiary of UPM Group, is set to invest $645 million in a bio-chemicals complex in Leuna, Germany, and plans to produce renewable chemicals from wood. This is going to be one of the first industrial-scale projects to convert sustainable hardwood into renewable glycols, which would be further used to manufacture textiles, PET bottles, packaging materials, coolants, composites, pharmaceuticals, cosmetics and detergents. The technical startup of this facility is expected by the end of 2022.
Meanwhile, a $226 million grassroot biofuel refinery in Kotka, Finland, is also being constructed by UPM and is expected to start operations in 2024.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
UPM Biochemicals, a subsidiary of UPM Group, is set to invest $645 million in a bio-chemicals complex in Leuna, Germany, and plans to produce renewable chemicals from wood. This is going to be one of the first industrial-scale projects to convert sustainable hardwood into renewable glycols, which would be further used to manufacture textiles, PET bottles, packaging materials, coolants, composites, pharmaceuticals, cosmetics and detergents. The technical startup of this facility is expected by the end of 2022.
Meanwhile, a $226 million grassroot biofuel refinery in Kotka, Finland, is also being constructed by UPM and is expected to start operations in 2024.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
