Wykeland Group has exchanged a deal to pave the way for an investment of several hundreds of millions of pounds to create the UK's largest tissue paper mill.

Wykeland has worked with leading Finnish tissue paper manufacturer Metsä Tissue to enable the landmark development, proposed to be built in several phases over the coming decade on a 211-acre site in Goole, East Yorkshire. Sale of the site by Wykeland to Metsä Tissue is subject to planning approval for the facility.

Metsä Tissue, part of Metsä Group, plans to create over 400 jobs on site during that timescale, with thousands of indirect jobs generated across the supply chain and local economy.

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The state-of-the-art facility will significantly reduce the quantity of tissue products imported into the UK and Ireland. The mill will increase the UK’s self-sufficiency by more than 30 per cent in the manufacture of essential tissue products, using the latest in sustainable production technology.

The announcement of the planned investment follows an agreement between Wykeland, which has long-term development rights to the site, and Metsä Tissue.

Wykeland is one of the North of England’s leading property development and investment companies, with a key focus on delivering major projects boosting the economy in Yorkshire and the Humber.

Wykeland Managing Director Dominic Gibbons said: "We identified the potential of this site a few years ago and secured a development agreement on the land 18 months ago. We're now delighted to have secured a major international investor so soon to realise that potential.

"We have worked closely with Metsä Tissue since the end of last year to support their ambitions to establish a world-class facility on the site and bring hundreds of new jobs to the region.

"We will continue to support Metsä Tissue through the planning process, bringing to the project our substantial experience within the region of large-scale developments delivering significant economic impact."