Karelia Particleboard engaged Canadian Anvenko in construction of OSB mill

Dec 16, 2005. /Lesprom Network/. Shareholders of Karelia Particleboard, Karelia Republic, Russia, and Canadian Anvenko company decided to construct OSB mill with annual production capacity of 250 000 cubic meters in Karelia Republic. Total value of the project amounted to $90 million, Karelia Particleboard press-service reported. The majority interest will belong to Russian shareholders. Investors from Russia and Canada will be involved in the project. Authorized capital stock of joint venture will make up $20 million. The project will be recompensed in 6-8 years and will create up to 700 jobs. OSB is widely used in construction because it has better operating characteristics compared to plywood, particleboard and MDF and is cheaper. Anvenko company specializes in investments in woodworking sector.