Kajaani, Finland 09 April 2019 -- Pöyry Finland Ltd has completed a survey on socio-economic impacts of KaiCell Fibers' biorefinery. According to the survey, the impact on the total output of Finland is close to one billion euros and over 700 million euros in the Kainuu province alone.

The on-going biorefinery project has a very remarkable impact on regional economy and employment. Through the indirect effects of the biorefinery, 1190 jobs are created in Kainuu region when the mill is operational. At national level, the employment effect is almost 2000 jobs. The impact of the construction period is 6400 person-years in Finland. Once mill is in operation, the increase on gross national product of Finland will be about 0,2% and in the area province of Kainuu, the increase will be 12 %.

The company has submitted an environmental permit application to the Regional Administrative Office of Northern Finland (AVI) in November 2018. It is expected that the environmental permit could be granted during this year.

"In fact, we were positively surprised for the great regional economic impact our project has," says Jukka Kantola, CEO of the company, and continues: "Pöyry has done a profound work and the figures show that the project creates prosperity to a wide area and in a sustainable way. We are also very pleased with the support the people from Kainuu region have shown for the project. Cooperation with the Council of Kainuu and Paltamo municipality in particular is excellent."

Preliminary agreement of the mill site area purchase

KaiCell Fibers Ltd has signed today, 9^th of April 2019, a preliminary agreement with the Paltamo municipality on terms of the mill site area purchase. The contract was signed by Jukka Kantola, CEO of KaiCell Fibers and by the mayor of Paltamo municipality, Pasi Ahoniemi. Jukka Kantola considers the agreement to be significant. "This is another notable step towards the realization of the project. The site was originally chosen from three different locations, and even in Paltamo we had several alternatives. This mill site is optimal and ideal for KaiCell Fibers."