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EGGER Group has started talks with the European Investment Bank (EIB) regarding potential financing for the EGGER Group’s realization of their greenfield advanced wood-based materials manufacturing plant in Biskupiec, Poland. The project is eligible for EIB funding as it will have a substantial positive economic impact for the region and support the forest-based bio-economy. The application of the EGGER Group for a 150 Mio. EUR loan is currently under appraisal by EIB.
The discussions with the EIB are about the construction and operation of EGGER’s greenfield wood-based materials manufacturing in Biskupiec in the Warmia-Masuria region of north-east Poland. Due to its location, the project is potentially eligible under Article 309 (a) of the EU treaty regarding projects for less developed regions. The EGGER management emphasizes that its investment in Biskupiec will contribute to the EU’s strategic goal of economic and social cohesion and support for weaker regions and greatly values the potential partnership with the EIB.
Thomas Leissing, EGGER Group Management for Finance & Administration, commented: “We believe in sustainable growth through our own efforts and the plant in Biskupiec is also a long-term investment for future generations. Partnering with the EIB is important for us in order to create a maximum positive impact to the local economy and society. The region will experience a valuable push forward thanks to the investment. There will be approximately 400 new full time equivalent (FTE) jobs in the EGGER plant, and many more in the upstream and downstream supply chains and service providers.”
The construction of the plant is already underway and main buildings shall be finalized by the end of 2018. The Biskupiec plant will have ultramodern facilities that are based on the latest available production and environmental protection technology. Already now, approx. 290 people have been employed by EGGER in Biskupiec.