The eight-year loan will support Nokian Tyres’ strategic investment project in Romania.
Nokian Tyres has signed a EUR 150 million (approx. $164,603,250) loan agreement with the European Investment Bank (EIB). The eight-year loan will support Nokian Tyres’ strategic investment project in Romania, where the company is building the world’s first zero-CO2 tyre factory, it said.
According to Nokian, the loan agreement aims to further improve the sustainability of its operations by financing advanced tyre manufacturing technologies at the new Romanian production facility.
“Our Romania factory is making history as the world’s first zero-CO2 emission tire factory,” Leena Kaipainen, VP, group treasurer, said. “It will be an industry benchmark with a holistic approach to sustainability, including the use of solely CO2-free energy sources and energy-efficient and highly automated processes. EIB is an important partner in our investment project and the financing agreement allows us to further develop sustainability of the tyre industry.”
