Russian Continental Management invests $300-500 million in advanced timber procession

Sep 16, 2004. /Lesprom Network/. Russian Continental Management intends to invest $300-500 million in advanced timber procession, CM chairman of the board Nikolai Makarov said on September, 15. Continental Management is currently considering 2 sites for construction: one in Amur region, the other in Chita region. The construction of the enterprise worth $0.65-1 billion is due to start after 2006. The enterprise will not be built in Irkutsk region because in spite of considerable forest supplies located in the region, there's a deficit of raw timber affected by round timber exports and significant illegal logging and exports. Continental Management is one of Russia's leading timber industry companies comprising 26 enterprises.