Nokian to receive loan for investment project in Romania

Nokian Tyres has signed a loan agreement worth €150 million with the European Investment Bank (EIB). The agreement is concluded for eight years and is intended to help Nokian implement an investment project in Romania, where the company is building the first tire plant in the industry with zero carbon dioxide emissions.

It is noted that Nokian Tyres is one of the leaders in the tire industry in terms of sustainable development, and the loan agreement will allow the company to continue raising the environmental friendliness of its activities through the introduction of advanced technologies at the Romanian plant.

“Our plant in Romania will make history as the world's first tire production facility with zero CO2 emissions,” said Leena Kaijanen, Vice President and Treasurer of Nokian. “It will be a benchmark for the industry due to its comprehensive approach to sustainability, including the use of exclusively environmentally friendly energy sources and high automation of processes. The EIB is our important partner, and the new agreement will enable us to further improve the environmental friendliness of the tire industry”.

Nokian started building the plant in Oradea in May 2023, and on July 1, 2024, the first tire was produced at the enterprise. The start of commercial production is scheduled for the beginning of 2025, and the plant's projected capacity is 6 million tires per year. The products will be sold mainly in the Central European market.