Finland's UPM Group Sees More than $1 Billion in Capital Investment

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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.

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