Stora Enso to build new power plant at Ostroleka in Poland
STORA ENSO OYJ STOCK EXCHANGE RELEASE 3 November 2008 at 07.00 GMT
Stora Enso is investing EUR 137 million in building a new power plant at the Ostroleka Mill site in Poland. The power plant project is scheduled to start immediately and to be completed in the third quarter of 2010. “This investment supports Stora Enso's strategy of maintaining profitable growth in the rapidly growing Central and Eastern European market, especially in the corrugated packaging business in Poland and Russia. The new power plant will provide a competitive power supply meeting Stora Enso's long-term needs,” says Veli-Jussi Potka, Executive Vice President of Stora Enso Industrial Packaging. The new power plant, which will be able to use multiple fuels, will improve Ostroleka Mill's energy self-sufficiency and energy efficiency, thereby reducing carbon dioxide emissions. The aim is to increase the biofuel usage depending on its availability. With the new power plant, the self-sufficiency will be about 65% in electricity and 100% in steam production. The power plant investment announced today will further improve the cost competitiveness of Stora Enso's operations in Poland. Ostroleka Mill does not currently have its own power plant. For further information, please contact: Veli-Jussi Potka, EVP, Industrial Packaging, tel. +358 2046 21486 Kari Vainio, EVP, Corporate Communications, tel. +44 7799 348 197 Keith B Russell, SVP, Investor Relations, tel. +44 7775 788 659 Ulla Paajanen-Sainio, Vice President, Investor Relations and Financial Communications, tel. +358 2046 21242 www.storaenso.com www.storaenso.com/investors STORA ENSO OYJ p.p. Pia Aaltonen-Forsell Leena Bergqvist