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New owner of Dunapack plans power plant

Austria's TI Paper is to build a mixed-fuel power plant costing several billion forints at its recent acquisition in Hungary, packaging materials company Dunapack Zrt, business daily Napi Gazdaság reported on Tuesday.

Dunapack's currently buys its steam and electricity from steelmaker Dunaferr Zrt, and its high energy costs was the main reason its previous owner, Mondi Business Paper Zrt, decided to sell the company.
The power plant investment will be carried out by TI Paper's Hungarian unit, set up last year with registered capital of Ft 3 billion, an unnamed company official told the paper. TI Paper will also invest in technology changes at the plant and convert most of its production over to bleached cellulose, the source said.