Jul 01, 2010. /Lesprom Network/. The Board of Directors of OJSC Ilim Group approved an investment project involving installation of a paper machine in Koryazhma, Russia. The estimate project cost exceeds $270 million, the company said in a statement received by Lesprom Network. The paper machine will produce cut-size papers, UFS offset and base papers for coated free sheet. An off-machine coater will also be installed. The new paper machine will produce more than 150 thousand tons of cut size and 50 thousand tons of offset papers per year an base paper for 70,000 tons of coated freesheet papers. Project implementation will start this year. The new paper machine is scheduled to start-up in 2012. Ilim Group’s CEO Paul Herbert says that the key project objective is to continuously integrate pulp in manufacturing of value-added products. «The strategic decision of the Board of Directors to approve the paper mill for Koryazhma along with approval of the Bratsk investments will secure Ilim’s long-term development prospects and strengthen our positions on our key markets».