The project will be carried out by construction company Kaukaan Voima, which is owned by Pohjolan Voima, a privately owned group of companies in the energy sector, and Lappeenrannan Energia, the energy supplier for the Lappeenranta region. UPM has a 42% stake in Pohjolan Voima.
UPM senior vice president of energy Anja Silvennoinen said: “The plant will improve the security of energy supply to our Kaukas mills. It is the latest example of UPM’s long-term strategy to use biofuels in energy production.”
The plant, which is due to start production in spring 2010, will replace the mill’s 30-year-old steam power unit and the majority of the energy generation capacity of the 30-year-old Mertaniemi power plant at Lämpövoima, a subsidiary of Lappeenrannan.
The investment follows UPM’s plans to build a £60m biomass power plant at its Caledonian mill.
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"Thanks Jo, look forward to reading it in due course. Administrators generally argue that they need to act with lightning speed in order to protect the business/jobs, thereby overlooking the fact that..."
"Hello Keith,
The details will be in the administrators' report but that's not available yet. I will write a follow-up piece when that's filed.
Best regards,
Jo"
""The terms of the deal were not disclosed."
Here we go again. Why is it that administrators are not obliged to reveal the terms of a pre-pack deal?"
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