Mondi Syktyvkar is planning to invest €300 million in production over the next 3.5 years

This is reported by TASS news agency referencing the company’s CEO Klaus Peller. The upgrading will increase the finished product output by 46% compared to the 2008 performance, while the tax payments will grow by eight times over this period, the CEO said without quoting any absolute numbers.

“Our investments are huge: €1.6 billion over the past 15 years; “Step” is the biggest project but there were many other projects, too, over 10 years. The key project called “Gorizont” and many other investment projects are still ahead. We are going to invest €300 million over the next 3-3.5 years. “Gorizont” project will be completed in April 2022, and we are already developing “Gorizont-2″, which is not included in this investment value,” Mr. Peller said, presenting his company to Denis Manturov, Russian Minister of Industry and Trade.