Stiga RM has begun construction of a large-format birch plywood mill in Ogre, Latvia, with total investment reaching $92 million. The project will be implemented in two phases, with full operations set to begin in 2029 and annual production capacity reaching 80,000 m3 of birch plywood. The facility is expected to become one of the most advanced plywood mills in Northern Europe, according to Stiga RM.
The first phase, scheduled for completion by the end of 2026, includes a 14,500 m2 veneer production facility and will create 50 jobs. The second phase will add an 18,500 m2 plywood production hall and employ an additional 200 people. Funding includes $47.4 million in loans from OP Corporate Bank and $10 million from development finance institution ALTUM, with the remainder covered by the company’s own funds.
The mill will produce high value-added birch plywood for export to more than 60 countries. A ceremonial time capsule was laid at the site, which historically housed a sawmill and is now being transformed into a modern industrial hub focused on sustainable development.
