Karelia Pulp to perform a large-scale upgrade of Kondopoga Pulp and Paper Mill

Artur Parfenchikov, Head of Karelia, Victor Ventimilla Alonso, Chairman of Severo-Zapadny Bank of Sberbank, and Vladimir Bobin, Chairman of the Board of Directors of Karelia Pulp Holding LLC, signed a trilateral cooperation agreement to implement an investment project and create favorable economic conditions for the timber industry of Karelia.

After signing the agreement, Karelia Pulp started the implementation of its Kondopoga PPM reconstruction project. The company will create conditions for increasing the output of import-substituting and export-oriented products.

It is estimated that the large-scale upgrade of the plant will require significant investments and state support. It is worth noting that the project provides for the production of bleached viscose pulp for the textile industry, as well as the production of cardboard for flat layers and paper for corrugated products. The project is scheduled to be completed by 2024. The existing newsprint and packaging paper production facilities of the plant will operate throughout the entire period of the upgrade.