Ilim Group announced the launch of one of the most ambitious projects in Russian forestry industry

Apr 22, 2010. /Lesprom Network/. The management of Ilim Group announced the launch of construction and installation work within the framework of the project involving construction of a new pulp mill in Bratsk, Russia. The largest project of the company's investment program in this region was finally approved by the Board of Directors of Ilim Group at the beginning of April 2010. It involves investments of around $700 million. Engineering and construction work under the project is to be started this spring and in 2012 the new pulp mill will start manufacturing high-quality softwood pulp for which there is strong demand in the market place. In total Bratsk will produce 1 million tons of softwood and hardwood pulp to be sold primarily in China. After the implementation of this investment project, the volume of marketable product manufactured by the companies of Ilim Group in the Irkutsk Oblast will increase up to 1.7 million tons per year. Wood processing efficiency will grow by 20%. The Bratsk Branch of Ilim Group will create 250 new jobs for qualified personnel and will provide jobs at the industrial site for up to 1000 construction workers and contractors during the implementation of the project. The Company will need additional 800,000 cubic meters of wood to fully satisfy its manufacturing demands.