Finnish company Satorak Oy to invest €20 billion in Russian forest industry

Finnish company Satorak Oy is going to invest €20 billion into logging and woodworking capacities in Russia within ten years, as Omsk regional press reports. An affiliate company of Satorak, ADS Finland, which was established for doing foreign business, will create investment fund with foreign capital which will attract private investors and manage projects in Russia.

Chief Executive of the company Kari Hyrkas was in Omsk region in late June in order to hold negotiations with regional administration and visit the mill of AVA-Company and industrial site in Nazyvaevsky municipality, where a woodworking capacity is planned.

Satorak Oy is one of the largest Finnish trade companies in the forest industry. The company was founded in 1976, has representative offices in the EU and United Arab Emirates and is a member of Chamber of Industry and Commerce of Finland.