Jul 13, 2005. /Lesprom Network/. Svetogorsk (Leningrad region, Russia) completed PM 4 modernization worth $50 million. The modernization was carried out in line with an investment program aimed at the expansion of production capacities, corporate public-affairs announced. The modernization of PM 4 will increase production output and raise quality, while the installation of a new paper cutting and package line will allow to satisfy the increasing demand for office paper. The investment program was aimed at increasing the production capacities of Svetogorsk and is a part of International Paper strategic sales development plan outside North America and business expansion in Russia. ‘Russia is an important market for our company’ IP Europe president Thomas Cadien said. ‘Svetogorsky has already become the leading office paper supplier to the Russian market. During the recent years market growth was estimated at 15-20%. We’re believe that the fulfillment of the investment program on Svetogorsk will strengthen the positions of IP in Russia and Europe.’ Svetogorsk is currently fulfilling a previously announced project to produce bleachead cardboard used as package for liquid products. The reconstruction of PM 1 will also include the installation of a new bleaching facility. The next stage of the investment program includes the construction of a mill to produce bleached chemical and termomechanical mass with the capacity of 200 000 tons. The enterprise will be launched in 2006. In accordance with the investment program Svetogorsk will allocate funds to maintain a high level of environment safety. International Paper is the world’s largest paper and timber goods manufacturer.