Turkish firm Eren Holding secures €775 million loan for US$1.3 billion paper plant in Wales
The new facility in Shotton will boost UK manufacturing with an annual output of 750,000 tons of container-board and 67,000 tons of tissue paper
Eren Holding AS, a prominent Turkish industrial and retail conglomerate, has successfully secured a €775 million loan to support the construction of a US$1.3 billion container-board and tissue plant in Wales, marking a significant boost to foreign direct investment in UK manufacturing.
The financing was arranged through a consortium of 13 international and Turkish banks, in collaboration with three export credit agencies. The loan was provided to Modern Karton, a subsidiary of Eren Holding based in Istanbul. Sabri Cimen, the CEO of Eren Paper, the group’s paper business unit, shared details of the project. He revealed that the new plant, located in Shotton, will have the capacity to produce 750,000 tons of container-board and 67,000 tons of tissue paper annually.
