Nov 6, 2003. /Lesprom Network/. Russian Alfa-Eco company set 100% of Kama pulp and paper mill shares on sale, the company intends to earn $20 million, Kommersant-daily reported. The decision to sell the mill followed on two basic reasons. Kama pulp and paper requires $10 million investments for proper functioning while Alfa company does not intend to invest. Besides the mill’s sales are rather low. ‘We’re tired attempting to sell Kama-produced paper’, - a source in Alfa-Eco company told Kommersant-daily. Alfa-Eco offered several Russian and foreign companies to buy Kama pulp and paper shares. Bazovi element managing company told Kommersant they ‘knew about the offer but the mill wasn’t worth the price offered by the owner’. Alfa-Eco may spend the money earned by Kama shares sales on purchasing Balahninsky Volga pulp and paper shares from Ost-West group. 90% of Balahninsky Volga pulp and paper shares, Russia’s major producer of newsprint are owned Cypriot Nizhnij Newsprint company, owned on equal rights by Alf-Eco and Ost-West group. Sovlink investment company analyst Michael Boboshko says Ost-West group may sell own Volga shares for more than $60 million and more. Kama pulp and paper mill was founded in 2002 on the basis of the bankrupt Kamsky pulp and paper mill. The mill produces newsprint and covered paper. Production capacity is 100 thousand tons of paper/yr. Alfa-Eco company owns 100% shares of Kama pulp and paper mill. Alfa-Eco got hold of Kamsky pulp and paper shares in 2001 after purchasing the company’s debt exceeding 700 million rubles for $10 million dollars. Formerly Kamsky pulp and paper mill was owned by Permsky industrial and investment group headed by Kamkabel chairman of the board and respectful businessman Vladimir Plotnikov. After Alfa-Eco purchased the mill, the enterprise went bankrupt and the property was registered under Kama pulp and paper mill enterprise. By the moment the mill was purchased by Alfa-Eco the paper machinery tear and wear - one of the machines operating since 1930 - reached 80% and newsprint quality was of lower than of that produced by major competitors Volga and Solekamskbumprom mill. By the end of 2001 the mill’s paper production didn’t exceed 60 thousand tons/yr. Alfa-Eco invested $3 million in Kama pulp and paper reconstruction, Kama public-affairs reported. After the reconstruction was accomplished and the third paper machine launched, the mill reached production level worth 12 million rubles.