Russian Novoeniseisky granted a credit of $2 million by J.P. Morgan Chase bank

May 17, 2004. /Lesprom Network/. Russian Novoeniseisky timber chemical enterprise (Krasnoyarsk region) was granted a credit of $2 million by the US J.P. Morgan Chase bank for a year with 7,5% interest rate, Novoeniseisky public-affairs reported. The credit funds will be allocated for the pre-export financing of the deal with the UK Wood Resource. In line with the contract, the enterprise will supply sawn timber worth $8 million to the UK. The funds will also be allocated for the production organization management: timber production and procession. Novoeniseisky was established in 1960. In 2003 the enterprise produced 450 thousand cub m of sawn timber, 5 thousand cub m of joiner’s glued panels, 20 million sq m of wooden-fiber panels and 150 thousand of hydrolytic mass.