Jun 24, 2005. /Lesprom Network/ One of the world’s largest pulp and paper enterprises – International Paper (USA) is considering new investments in Russia. Head of IP John Farachi confirmed this intention in event of his visit as a member of a business-delegation consisting of the largest American entrepreneurs. According to John Farachi, Russia still remains an important part of IP business plans outside North America. ‘In spite of the fact that doing business in Russia is a hard job, we have the experience necessary to organize successful operation in the region’ he said. IP ownes 99.9% of Svetogorsky pulp and paper enterprise in Russia located in Leningrad region. John Farachi said that the enterprise is the largest supplier of paper to the expanding Russian market. ‘We’re currently fulfilling the project worth $500 million aimed at increasing the production capacity of Svetogorsky. Afterwards we intend to start another project to process aspen timber’. Besides, John Farachi said that IP is considering ‘additional investments in the paper and package industries in Russia’ in order to sell goods on the interior market and for export.