Jan 30, 2006. /Lesprom Network/. Turkish cardboard maker Modern Karton will complete a $365 million (Euro 312.1 million) investment in 2007 to increase its annual capacity to 700,000 tonnes from 300,000 tonnes, Milliyet informed. The investment, which will cover the purchase of a cogeneration facility, cardboard machines and a production line, will make Modern Karton the eighth biggest producer in Europe, the company said. Modern Karton secured a $240 million (Euro 205.2 million) 10-year loan with a three-year grace period from German development bank KfW and the International Finance Corporation. The remaining $125 million (Euro 106.8 million) will be Modern Karton's own funds. Modern Karton is part of Turkish conglomerate Eren Holding.