Sberbank to finance the construction of a plywood mill in the Vologda region for 11.9 billion rubles

Sberbank confirms financing of the construction of an export-oriented birch plywood plant LLC Plitwood in the Vologda Region which is the joint venture by SC “Company group “Vologodskiye lesopromyshlenniki” and JSC Cherepovets Plywood and Furniture Plant.

Financing for the construction of the plant was provided for a period of 10 years and will be carried out on preferential terms within the framework of government measures to support and develop the timber industry. The loan amount will be 11.9 billion rubles.

The plant is planned to be commissioned in Q3 2022 in Vokhtoga, Vologda region. It is assumed that the enterprise will annually produce up to 180.000 m³ of large-format birch plywood. The equipment to be supplied by the Finnish company Raute.