Eren Holding has secured €775m in financing to support its €1.18bn investment in a new paper and packaging production facility at Shotton Mill in Wales, UK. The financing has been provided to Eren Holding subsidiary Modern Karton by 13 international and Turkish banks and three export credit agencies.
The new facility will have an annual production capacity of 750,000 tonnes of packaging board and 67,000 tonnes of tissue paper. Once operational, the investment is expected to increase Eren Holding’s total annual capacity to 2.6 million tonnes of paper and one million tonnes of corrugated packaging.
The Shotton project will also include the construction of a new renewable energy power plant. Valmet will supply the board production machine, while Enka Insaat will undertake construction work and Tekfen Insaat will manage the project.
Modern Karton acquired the Shotton Mill site from UPM in 2021 as part of Eren Holding’s international investment strategy. The group is also investing €650m in a board production facility in Zonguldak, Türkiye.
