Mar 05, 2008. /Lesprom.com/. Finnish Ruukki Group has abandoned its investment project in Russia's Kostroma region. The company had planned to invest Euro 1.1 billion to build a pulp mill and a sawmill in Northwest Russia. After Ruukki recently announced a new Russian partner and shareholder, JSC Vneshtorgbank (VTB), industry observers believed that the project would be realised. However, after the priority investor status applications for the sawmill and pulp mill investments had not been supported by the Kostroma region, the Finnish group announced that it had decided to abort all preparation and implementation of the Kostroma investment projects.