The European Investment Bank (EIB) will finance SAICA's investment in new technologies to improve two of the production lines at its factory producing paper for corrugated cardboard in El Burgo de Ebro, Zaragoza, Spain. EIB Vice-President Román Escolano and SAICA Chairman Ramón Alejandro signed a Euro 70 million loan under the Investment Plan for Europe.
The loan will enable it to use the latest technology to make its production processes greener and more efficient, recycling resources more effectively and preventing them from being sent to landfill.
In concrete terms, the investment in the El Burgo de Ebro plant will make it possible to produce a new variety of paper with similar mechanical properties and appearance to that made using virgin pulp (kraftliner).
The EIB financing will also enable the Aragon-based business to invest in innovative technologies and processes to develop a new range of white papers for high quality printing.
In this way, the EIB financing will help ensure SAICA's competitiveness by reducing costs and diversifying both its raw materials and its product range. Via the Investment Plan for Europe, the company will also benefit from financing on favourable terms and will be able to shorten the project implementation times.
The EIB loan will have a positive effect on job creation in Zaragoza, generating 570 jobs during the implementation phase over the first two years and another 118 permanent positions.
SAICA is a family business that has been working to produce paper and corrugated cardboard packaging for the last 70 years.
