CTS Invest to allocate RUR 2 billion into Pitkyaranta pulpmill modernization

CTS Invest company is going to invest RUR 2 billion into modernization and further development of Pitkyaranta pulpmill, according to the Forest portal of Karelia. This decision was announced at a press conference on July 01 attended by Chief Executive of CTS Invest Vitaly Lisunov, representatives of regional government and strategic partners of the project: global pulp sales company Price & Pierce, consulting Vision Hunters, Kuzbassproekt, Russian-Swedish “SVEKO Soyuz Engineering”, VTB bank and Expobank.

After finalization of Pitkyaranta’s bankruptcy proceedings, CTS Invest will start massive modernization and reorganization of the mill. Investment plan is already developed, its implementation will be accompanied by a Finnish consulting company Vision Hunters.

Trade company Price & Pierce will be the mill’s partner for three years and will represent its interests on the global market, searching for consumers.

SVEKO Soyuz Engineering will develop new energy complex of the mill, while Kuzbassproekt is going to modernize mill’s bark boiler to utilize wood waste.

One of the largest Karelian forest industry enterprises will be reconstructed with support of regional government and partner banks, VTB and Expobank.