Slatina, Croatia 05 December 2012 -- According to EUWID Pulp & Paper, the Chinese-Croatian joint venture Dravacel will build a pulp and paper mill in Croatia mill that will produce  500,000 tpy of coated graphic and packaging paper.

The joint venture is established by Croatian paper and packaging manufacturer PAN Papirna Industrija and China International Investment Stock. The mill will be located in in Slatina, in north-east Croatia.

A financing agreement worth €320m has already been signed with the Chinese investment group who will hold a 70% stake in the joint venture company Dravacel.  

Construction of the greenfield facility will begin in April next year and the entire project is scheduled for completion in 2015, according to EUWID.