News

Tissue maker awaits funds from EBRD

Published

August 3, 2015

Comments

0

Share

Published:

August 3, 2015

Comments:

0

Share

European Bank for Reconstruction and Development said it is considering the provision of a long-term loan of up to EUR 4.5 million to Paloma DD for energy and resource efficiency investments as well as working capital needs. The investment will support a balance sheet restructuring, improve resource efficiency at the tissue producer and facilitate its privatization. The project has passed final review and is pending board approval with September 2 as the target date.

Paloma is a Slovenian integrated hygiene and tissue paper producer with 2014 revenue of EUR 87 million and EBITDA (earnings before interest, taxes, depreciation and amortization) of EUR 6.7 million. Paloma has four paper machines with total paper production capacity of 72,000 tons and 28 converting lines with capacity of 93,000 tons, says the project summary document.

The endeavour is categorised B under the bank’s 2014 Environmental and Social Policy. The production of tissue paper and tissue converting is associated with limited adverse environmental and social impacts, which can be effectively mitigated with modern techniques, EBRD said. The proposed investments will improve energy and resource efficiency of selected parts of the production facility and have no significant environmental or social impact, according to the document.

The investments financed by the loan are aimed at further improving the tissue paper mill’s energy efficiency and environmental performance. The project will also allow for increasing the use of recycled paper as raw material and improve resource efficiency of the company and result in raw material cost savings, EBRD’s document adds. The tissue production will not be increased.

Related Articles

SEEPEX-nominated-electricity-market-operator-nemo

SEEPEX becomes Serbia’s nominated electricity market operator (NEMO)

24 June 2022 - SEEPEX's appointment as Serbia's nominated electricity market operator paves the way for market coupling with the neighboring EU countries

Eriola Bibolli General Manager ProCredit Bank Kosovo

ProCredit Bank Kosovo – a driver of green finance and energy transition in the country

24 June 2022 - Author: Eriola Bibolli, General Manager, ProCredit Bank Kosova  It is a well-known fact that climate...

Croatia launches auctions for premiums for large power plants

Croatia launches auctions for renewable energy utility-scale power plants

24 June 2022 - The deadline for submitting bids for the award of premiums is July 4, according to the public call published by HROTE

EP votes protect EU industry after CO2 border tax fully implemented

EP votes to protect EU industry even after CO2 border tax is fully implemented

23 June 2022 - MEPs want to maintain free emission allowances for industrial producers in the EU after the CO2 border tax is fully implemented in 2030