Nov 12, 2010. /Lesprom Network/. Polish timber company TimberOne is planning to set up a manufacturing facility in Bilgoraj in the Lublin region, Poland. The construction cost of the manufacturing facility is estimated at PLN 205 million ($71 million), TTJ reported. TimberOne intends to use the facility to manufacture glulam and thermally modified timber for the residential, industrial and public building markets. It will also produce wood pellets. The company also plans to build a power station to produce heat and electricity using biomass obtained from production waste or with raw material from local sources. It should become operational in the 2Q 2012. TimberOne hopes to partly pay for the project through proceeds from its stock market debut, which is scheduled for the beginning of 2011, when the company enters the NewConnect market. The offering will be worth PLN 15-20 million ($5.2-6.9 million) and the new shares will represent 30% of the company's raised share capital.