Sber is going to fund construction of a plywood plant in the Vologda Region for 11.9 billion rubles

The Russian bank is going to fund construction of an export-oriented plant producing birch plywood in the Vologda Region at the premises of a joint venture of Plitwood created by Group Vologodskiye Lesopromyshlenniki and Cherepovets Plywood and Furniture Plant, as reported by Sberbank press service.

Funds for plant construction are provided for 10 years and on favorable terms within governmental measures aimed at timber industry support and development. The loan amount is 11.9 billion rubles.

It is planned to commission the plant in Q3 2022 in Vokhtoga village, Vologda Region. The enterprise will supposedly produce up to 180,000 m³ of large-sized birch plywood annually. Equipment will be supplied by Raute, Finland.