Good morning, ladies and gentlemen, and welcome to this webcast, which is a very special day for Norske Skog. We made a decision. Our board of directors made a decision yesterday to finally approve the Golbey conversion project, which we announced already on the 17th of June last year, that we had the intention of becoming a leading independent containerboard producer in Europe, one of the largest in its industry.
Now it's becoming real. We have done the main studies. We have already announced the Bruck announcement in April. Now it's time for the Golbey announcement today. Just reminding you all of our strategy. We obviously have an important business in the publication paper business, which is declining. Our cash flow is still important, but today we have taken a very, very long step of becoming a leading producer of recyclable packaging.
This is illustrated in the orange bars here. Over time, we will have a very, very significant business and a significant earnings potential from a market and an industry which is even better than what we thought when we announced this strategy last year. Finally, the lighter green shades here illustrates all our exciting projects within fiber and energy. We are looking at biocomposites.
We are looking into replacing plastics and petrochemical products in light of the Green Deal, which is engulfing Europe and the world at large. Here are some of the new brand names that we are gradually becoming familiar with. At the bottom, we have our traditional publication paper business. We will still be a reliable supplier for many, many years. Our customers have gotten used to our service and our products. They will still have them.
But in addition, Norske Skog is then becoming a completely different company. On the energy side, we already are well underway to build the Bruck project, which is a NOK 72 million investment into waste-to-energy, which is important, but also importantly on time, on schedule, both in terms of budget and its startup next year. Nature's Flame, our fiber business in terms of wood pellets in New Zealand, is a very, very interesting one where we also have plans to expand further that business. In addition, we already have biogas facilities at three of our facilities. What we're talking about today is the renewable packaging part. And here you can see the Strato name, which is our brand name, which both Bruck and Golbey's products will be sold under.
In addition, we announced in April trials of Interliner from Norway to China, and we think that there is about 200,000 tons of capacity at our Skogn, which can be utilized for this market. And finally, at the top, we have Circa, CEBINA, and CEBICO, brand names you will all become more familiar with, as we are commercializing these products and ramping up facilities going forward. But today, it's all about the final investment decision for containerboard production at the Golbey mill in France. It's a big day for Golbey. It's a big day for Norske Skog at large. So yesterday, as mentioned, the board of directors did approve finally the decision. It's a NOK 250 million net investment in the conversion of one of the two paper machines.
Debt financing is now committed at EUR 175 million, which is an important contribution to the project, including ECA financing that is coming with the suppliers, mainly from Germany. 550,000 tons of containerboard will start up in Q4 2023 with a normal ramp-up curve. We should have full production a short two years later on. So on that note, I will introduce Mr. Tore Hansesætre. He is our Senior Vice President responsible for the packaging project. Tore.
Thank you, Sven. Good morning to all of you. Today is a good day, and we have taken the second step of our ambitious strategy of becoming a leading independent European containerboard supplier. The picture here shows the sites that we are doing the conversions. It's Golbey in France, and it's the Bruck mill in Austria. Today, we are announcing the final investment decision of conversion of PM1 in Golbey.
Today, this is a 235,000 tons newsprint machine that will then be converted to 550,000 tons of lightweight containerboard capacity. The startup of the machine will be early Q4 2023, and the Capex for the investment is approximately EUR 250 million, which is in line with what we have guided on the last 12 months. In Golbey, we also have the second machine running, the PM2, which is the newest machine in our portfolio.
This is a 330,000 tons newsprint machine producing high-quality standard and improved newsprint that will maintain its operations unaffected by the conversion of PM1. And then this is obviously also a strong future conversion candidate, but this will then continue within a newsprint. On today's conversion announcement of PM1 is then coming on top of the announcement we made two months ago exactly, where we were then announcing PM3 in Bruck conversion, which is currently running 125,000 tons of newsprint capacity, which will be then entering the containerboard market with 210,000 tons of recycled containerboard capacity. The startup is already in Q4 2022 with an estimated Capex of EUR 100 million.
All in all, this makes Norske Skog a producer of 760,000 tons of recycled containerboard, which will make Norske Skog one of the leading producers of containerboard in Europe. We will have two machines, which is beneficial both from backup supply and to also size-wise complement each other so that Norske Skog will be a robust and solid supplier of containerboard for future customers.
The containerboard business is a growing business. It's a growing market. However, that in itself is not a success factor. What will make these investments of Norske Skog a success is that we will bring on competitive capacity into the market. This graph is showing a third-party consultant's view on the industry where our machines are placed as a first quartile producer. And the reason why we believe, and also this consultant believe, this is first quartile cost competitive production is listed on the right-hand side. Here we see both Bruck and Golbey are centrally located in continental Europe.
This means very efficient logistics both on the inbound of recycled fiber, but also outbound to the corrugators in the mainland of Europe. We have established presence in the recycled fiber markets. Both Golbey and Bruck are today sourcing recycled fiber, approximately 600,000 tons that will increase, but we have the organizations in place at both mills to do this scale-up with the network, with the experience of doing this today.
Bruck and Golbey are among the top brownfield opportunities in Europe. Obviously, EUR 350 million is significantly lower than what the greenfield capacity would have costed. At the same time, Bruck and Golbey, offering with its infrastructure, with the scales, with energy facilities, a unique opportunity for a brownfield conversion. Both mills are large industrial sites. Bruck, after the conversion of PM3, will have a total capacity of around 500,000 tons.
Golbey will have as much as 900,000 tons. This has a lot to say for both fixed cost distribution, but also on the utility side. Boilers will secure sustainable and competitive steam supply. We are building new boilers at both sites. In Bruck, we are, as Sven mentioned, investing currently EUR 72 million in a new waste-to-energy boiler that will supply Bruck with sustainable and cost-efficient steam. And then in Golbey, we will have a new biomass boiler at site constructed by Green Valley Energie, which will supply the PM1 with high cost-efficient steam and green energy. And finally, both machines are very well suited to go into containerboard. PM1 in Golbey will be among the fastest, the widest, the largest containerboard machines in Europe, with very well suited for especially lightweight containerboard.
This slide we showed one year ago when we announced our strategic ambition of entering the containerboard market. Then this is showing the selling prices on the upper hand of recycled containerboard, and the blue line in the bottom is showing the recycled fiber prices. As you can see, when we entered or when we announced last year, we said that this market has developed favorably in the last 10 years. We are confident it will also have room for our capacity. And if anything, this market has shown through the last 12 months that it's even stronger than what we thought of when we announced this 12 months ago. In the last 12 months, significant capacity has been installed in Europe. This has been absorbed, and the selling prices are currently at very high and almost historical levels.
With that, I will give the word to Marleen van den Berg, who is heading our containerboard sales, to say something more about what we are offering and the market. So Marleen, please.
Thank you, Tore. Indeed, a very good day. As salespeople, we are extremely excited about introducing our containerboards, Strato Liner and Strato Fluting, to the European market. They will be lightweight, yet very strong, and they will be made out of 100% recycled fibers, old corrugated containers, OCC to be precise. It's exactly these properties that make them inevitably circular. That, again, is exactly what this fast-growing market, we're talking again 2%-3%, about 600,000 tons annually, is demanding a sustainable packaging solution among others to replace plastic where and when possible. Of course, e-commerce, as we all know, is a major driver when it comes to this growth, the growth of this demand. There's more. The push for circular packaging has definitely become a global movement, uniting consumers, retailers, producers, brand owners, but also authorities and environmental organizations.
So adding these 760,000 tons might seem ambitious, but as Tore already mentioned, both third-party research and our contacts in the packaging industry do confirm that more capacity is needed to support this movement towards sustainable packaging and consequently the growth in the packaging industry. And with Strato, we intend to fulfill that need, exactly that need. May I now give the word to Yves Bailly, Managing Director of the mill in France, Golbey, Norske Skog Golbey, for more details.
Thank you, Marleen. Good morning. So I'm very happy. First of all, I would like to thank the board of Norske Skog and the corporate management team, more especially our CEO, Sven, for the trust given to the Norske Skog Golbey team. It's a very important day for us. It's an important decision for Norske Skog Golbey. This decision will secure a long-term and profitable future for our company.
And we will remain an important contributor regionally and locally, which is extremely important for the attractiveness of our future and future employees, which are the key resources for Golbey. We will sustain then the 350 employees' jobs. We will renew on longevity by diversifying in the growing market, which is extremely good compared to the market we are in now. And we will maintain a cost-efficient and competitive production, which is also securing our future.
For sure, we will continue and enhance our environmental profile. We are in the circular economy for a long time, but we will again support this circular economy with more than 100% of recycled paper. We will also increase the use of green energy and reduce fossil energy consumption thanks to biogas production and also the use of a new biomass boiler, as has been said by Tore.
And we will also, as an industrial, use the best available technology for our mill. And again, this decision is an extremely important decision for us. It's a really great day. And we are very proud on behalf of my team and Golbey employees. Again, thank you very much for this decision. We will secure a long-term and profitable future. Thank you very much. And I give back the word to Sven. Thank you.
Thank you, Yves. Just to remind you all that what Yves Bailly was saying, we are indeed a part of the circular economy. We have had ESG on the forefront for many, many years. Our environmental impact will be even less now with the boiler investments in Bruck and Golbey. If we look at our CO2 footprint from 2015 to 2020, we have already reduced 40% of the total emissions.
This is coming after many years of reductions that happened in the past. So we are now practically at the lowest footprint in the industry. Yet our ambition is then still to go down with 55% to 2030, in line with international and domestic ambitions in Europe and in Norway. So if you want to summarize a little bit what we have now finally decided to become a leading European recycled containerboard company.
This is quite important for us. It's a new business, but an exciting business in an exciting market. The NOK 350 million total Capex will be financed by 70% of debt, which is now committed, part of it by Export Credit Agency guarantees as well, and at a very, very competitive cost. Bruck starts up first in late 2022 in order to reach the 2023 annual commercial year, and then Golbey probably a short year thereafter.
Again, it's important for us to stage this so there's not too much capacity coming on, but also that the learning curve and our customer introduction is as smooth as absolutely possible. Full utilization, given a normal ramp-up curve, is expected in years 2025-2026. And at that point, with an EBITDA impact between NOK 700 million-NOK 800 million at historical prices today, the margins are significantly higher. So there should also be an upside to that estimate. So on that note, ladies and gentlemen, I thank you very much for your attention this morning.