Turkey’s Eren Secures $850 Million Loan for New UK Paper Mill

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Turkish industrial and retail group Eren Holding AS has secured a 775 million ($854 million) loan to finance a $1.3 billion container-board and tissue plant in Wales, in a boost to foreign direct investment in UK manufacturing.A mix of 13 international and Turkish banks, alongside three credit export agencies, provided the loan to Modern Karton, a unit of the Istanbul-based Eren Holding, according to Sabri Cimen , chief executive officer of the groups paper business unit, Eren Paper. The money will help build a new plant in Shotton, which will have the capacity to produce 750,000 tons of container-board and 67,000 tons of tissue paper a year, he said in a video call with Bloomberg News.

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