HELSINKI, Finland -- Stora Enso says it will invest a total of approximately Euro 70 million in a new polyethylene extrusion coating plant and an automated roll warehouse at its Imatra mill in Finland.

Extrusion coating is a process used to enhance the functionality of paperboard packaging by creating barrier properties for demanding applications such as food and liquid.

The investment will enhance Stora Enso's ability to meet increasing customer demand for food service board and liquid packaging board, which is estimated to grow above industry standard.

The investment will begin in the second quarter of 2016 and is expected to be completed in early fourth quarter of 2017. This is in line with the group's full year 2016 capital expenditure guidance, which is anticipated to amount to Euro 680-720 million as communicated earlier.