Wood & cement board mill is to be build in Novgorod

Novgorod, December 13. There are plans to build a wood and cement board mill in Novgorod region, as announced by vice governor Veronika Minina speaking in Amsterdam where she with Rabobank Group, Lesopererabatyvayushaya Innovatsionnaya Kompaniya and Eltomation, equipment producer from the Netherlands.

Lesopererabatyvayushaya Innovatsionnaya Kompaniya already has sawmilling business in Pestovo district of the region and is planning to expand its capacities there. Eltomation will supply equipment and technology solutions. Estimated investment scope of the project is around 400 million Rubles (€10 million).

‘’Implementation of the project entails algorithm which is new for the region: the project attracts a foreign export-credit agency, a foreign bank and a Russian credit organization. This will allow the company to receive the credit faster in order to start construction without delays’’, Minina said.

The mill will process hardwoods. The project details will be discussed at the meeting with governor Sergei Mitin.