The EUR 21 million loan also finance the building of a new 400-metre quay and updating the harbor infrastructure, also the digitalisation of the port continues. The investment is related to the Metsä Fibre’s investment in a bio product mill in Kemi and it will have a significant implications on regional forestry and logistics; with the investment the cargo volumes of the port of Kemi nearly doubles.
The investment in Kemi is a part of NIB’s Arctic Facility loan project as the port of Kemi serves the economy of both Finland’s Arctic areas as well as the North Calotte. Port of Kemi provides the fastest route to the northern parts of Finland and Scandinavia, as well as to the Murmansk region in Russia. Among others, cargo such as forest industry-related products, dry bulk, oil, chemicals, and general cargo are passing through the port.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries.
The NIB’s press release can be read here.
A live broadcast of the expansion project of port of Kemi can now be watched here.