Chinese investors to build a billion dollar worth forest industry complex in Russia

Source:
RIATomsk/Fordaq
Views:
4085
  • text size

Today, May 8 2015, in the presence of the Russian President Vladimir Putin and the President of China Xi Jinping, Serghei Zhvachkin the Governor of the Tomsk Region will sign a memorandum on 50 billion ruble worth (~$979.4 million) Beloyarsky forest industry complex construction financed by Chinese investors.

The document will be signed by Mr. Zhvachkin and the board member of Xinjiang Zhongtai Group, reports RIA Tomsk with reference to the Tomsk Region administration.

"The main idea of the memorandum in question is the intention of the Chinese investors Xinjiang Zhongtai Group, Xinjiang Fulida Fibre and RosKitInvest to build Beloyarsky forestry industrial complex in Tomsk Region, Russia. The complex will include a PPM, a sawmill and a CHP plant, with a total value of 50 billion rubles."

The PPM’s annual capacity will reach 500,000 tons of brown pulp, and the project is planned to be implemented during 2015-2020. It is likely that both soft and hard raw wood will be used at the future mill.

Beloyarsky forest industry complex will become a part of a forest industry cluster in Tomsk Region. A first veneer plant of the complex was put into operation in February 2015. The veneer plant is one of the 10 woodworking plants under construction.

The total amount of the investment made in the forest industry park (excluding Beloyarsky forest industry complex) will exceed 30 billion rubles (~$587.7 million) by 2022. 13 billion (~$254.7 million) rubles have already been invested. 

Post comment