AUSTRIA: Borealis receives EUR 150-million loan from EIB to further develop plastic raw materials
Borealis has received a EUR 150-million long-term loan from the European Investment Bank (EIB) for further research and development of plastic raw materials.
The loan will support Borealis' multi-annual investment program at the company's innovation headquarters in Austria, and at its innovation centers in Finland and Sweden.
The company will focus primarily on product innovation in the area of advanced polymers.
In addition, the loan will be used to finance Borealis' vocational training program.
"Borealis demonstrates how well corporate research and activities and the training of young people go hand-in-hand... which the bank is pleased to support with its loan," noted EIB Vice President Wilhelm Molterer, responsible for lending operations in Austria.
Source: Weekly "Petrochemical News", Durham, NC, USA; 3 Feb 2014
(Syed Rashid Ali, Karachi, Pakistan)
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