The net investment amount for the conversion project at Norske Skog Golbey will increase from EUR 265 to 300 million. As of the 3rd quarter of 2023, a net EUR 200 million has been invested in the project. The increase is generally due to increased purchase prices for goods and services throughout the project period as well as somewhat delayed deliveries of equipment. The start-up of production of packaging in Golbey is postponed to the second half of 2024 due to delivery delays. Considerable effort will be devoted going forward to ensure that the conversion project is completed within the new framework.
“The Golbey conversion project has a massive scope and has been carried out during a period of very high inflation and challenging global supply chains. Delayed deliveries and associated consequences have necessitated the project team in Golbey, along with the company’s leadership, to revise the project parameters. This has been a demanding process due to the project’s complexity and because it deviates from the plans we have communicated so far. Therefore, there will be a strong focus going forward to ensure that we deliver the project within these new parameters,” says Geir Drangsland, CEO of Norske Skog.