Segezha Group and the Government of Karelia Republic, Russia, signed an agreement of cooperation

Posted July 15, 2016
Sergey Pomelov, the President and Chairman of the Board of Segezha Group (part of Sistema JSFC) and Alexandr Khudilaynen, the Head of Karelia Republic, Russia, have signed an agreement of cooperation between the regional government and Segezha Group, as the company said in the press release received by Lesprom Network.

The parties have agreed upon cooperation aimed at implementing joined initiatives and projects in order to form a favorable economic, investment and social environment in Karelia Republic. Segezha Group aims to attract investments, technologies and staff training systems to Karelia in order to increase the competitive performance of its forest industry complex enterprises.



The main lines of cooperation also include the expansion of the range of goods and product markets, implementing the full cycle of wood utilization, and economic effects from converting wood processing waste into exported goods with high added value.
"We have built a constructive dialog with the regional government of Karelia,” Sergey Pomelov, Segezha Group's President and Chairman of the Board, said. “We have a large-scale investment program and strive to develop in the locations of our assets. We guarantee new growth points for our partners".

The Government of Karelia Repuplic plans to support Segezha Group in reserving timber areas in the volume necessary for implementing investment projects necessary for their inclusion on the list of priority investment projects of the Ministry of Industry and Trade of the Russian Federation in the area of forest exploitation. The parties will also take all necessary measures for entering a special investment contract.

In the next three years the company will invest RUB 21 billion ($332 million) in the development of the town of Segezha and Karelia. Additionally, a pilot project has been launched in cooperation with Petrozavodsk State University, aimed at the creation and development of qualified talent pool for the region.



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