Swiss company invests $20 mln Apr-Sep in Russian wood plant
Construction of the first $30 million stage of the plant, which is expected to produce 150,000 cubic meters of laminated wood particleboard a year, started in April. The first-stage facility is due to start operating at the beginning of next year.
KOSTROMA, Oct 11 /Prime-TASS/ - Swiss company Kronoholding invested U.S. $20 million in its timber-processing plant in Russia's Kostroma Region in April-September, the regional government's foreign economic relations director, Alexander Kopaikov, told Prime-Tass Friday.
Construction of the first $30 million stage of the plant, which is expected to produce 150,000 cubic meters of laminated wood particleboard a year, started in April. The first-stage facility is due to start operating at the beginning of next year.
For the second, and final, five-year stage of the project, Kronoholding plans to set up a $350 million facility manufacturing medium-density fiberboard (MDF board) and decorative materials.The plant will use waste from regional wood-processing plants as its principal feedstock and is projected to process 2 million cubic meters of waste per year.