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EIB supports Navigator Company’s decarbonisation strategy with €27.5 million in Portugal

Christian Fernsby ▼ | August 3, 2020
The European Investment Bank (EIB) will support The Navigator Company, a major Portuguese industrial group and Europe’s leading pulp and paper manufacturer, with a €27.5 million loan for the construction and operation of a new biomass boiler at their integrated mill facility located in Figueira da Foz, a cohesion region in Portugal.
Navigator Company
EIB   Navigator Company
This project is the first major step of The Navigator's decarbonisation strategy, launched recently with the aim of making the company carbon neutral by 2035.

Topics: EIB Navigator Portugal

Replacing the existing equipment with a new biomass boiler is part of the company’s investments for offsetting carbon emissions and is seen as crucial for preserving and improving its competitiveness.

The Figueira mill only uses feedstock from forests that are either certified by internationally accredited forest certification systems or considered to be controlled wood. This project will also contribute positively to supporting rural economies and employment in Portugal through the further development of a forest and bioeconomy value chain.