Mar 24, 2006. /Lesprom Network/. Spanish paper company Unipapel SA opened Euro 15 million plant in Logrono, northeastern Spain, on Friday, March 24, Expansion said. Half of the investment was allocated for buying and installing equipment and new technologies. Construction works were completed within one year. The plant, located on a total area of 14 000 square meters, is expected to post some Euro 15 million annual sales. Unipapel has recently sold a construction plot in Logrono for Euro 27.9 million, reporting some Euro 20 million capital gain. The company posted a Euro 7.6 million net profit for 2005, down from Euro 8.1 million for 2004. Unipapel sales rose by 0.9% to Euro 184.6 million. Unipapel processes 10 000 tonnes of paper and cardboard per year, making notebooks, office supplies and paper bags.