Korea invests more than $100 million in the woodworking industry of the Sverdlovsk region

As reported in the press release, the Corporation for the development of the Middle Urals at the site of the representative Office of the Governor of the Sverdlovsk region in the state authorities of the Russian Federation concluded an agreement with the South Korean woodworking enterprise Birch Holdings on the support of an investment project for the construction of a plant producing plywood and Board products. The company plans to invest more than $100 million in the territory of advanced development in Krasnoturinsk.

“The Republic of Korea is one of the strategic partners for the Sverdlovsk region. The launch of the enterprise will create 500 new high-performance jobs, which corresponds to the objectives of the national project “Productivity and employment support”, – said the Minister of investment and development of the Sverdlovsk region Victoria Kazakova.

The project provides for the construction of a full-cycle plant for complex waste-free wood processing in the industrial park “Bogoslovsky” in Krasnoturinsk. Birch Holdings will produce birch plywood, particle board (chipboard) and lumber in Sverdlovsk region. The annual volume of products planned for production will reach 240 thousand cubic meters. The launch of the enterprise is scheduled for 2021.

In addition to the economic effect of new investments, the implementation of the project will generally have a positive impact on regional logging farms, providing suppliers with solvent demand.