Industrial Development Fund will grant a loan of 490 million rubles to Plitwood

The expert board of the Industrial Development Fund (VEB.RF Group) approved a loan of 490 million rubles for implementing a project on building a birch plywood production plant in the Vologda Region, at the premises of Plitwood joint venture established by Vologodskiye Lesopromyshlenniki Group and Cherepovets Plywood and Furniture Mill.

The enterprise is supposed to be commissioned in 2023; it will produce 180,000 m³ of plywood per year, as well as fuel wood briquettes. The total value of investments in the project exceeds 12 billion rubles.