Moscow. Oct 22, 2008. /Lesprom.com/. Finnish Stora Enso group is planning to invest more than Euro 1.677 billion into pulp & paper plant construction in Nizhniy Novgorod region with a capacity of 900,000 tons of pulp annually, Deputy Governor Irina Zhivikhina reported on Wednesday.'We [regional government] sent an application to the Russian Ministry for Industry & Trade with a request to include the project of Stora Enso into top-priority list. In terms of capitalization, production volume and number of jobs created the project has such a right. During implementation of the project of Stora Enso, it is planned to cover 40% of costs with own funds and the rest with borrowed funds', she said.
Zhivikhina also reported that this new pulp & paper plant will use 400,000 tons of pulp annually to produce non-bleached fiber paper and sell the rest of the raw materials. Estimated paper production output is 550,000 tons, 250,000 of which is shredded paper.
'The plant is planned to be large enough to deliver pulp to other enterprises of this industry', vice governor explained.
Apart from that, Ms. Zhivikhina announced that the project implementation will enable not only to perform deep timber processing (up to 90%), but also to utilize timber processing wastes and perform sanitary fellings in the forests. 'The company intents to buy deficient timber in regions neighbouring Nizhniy Novgorod region', she explained.
Estimated felling rate in Nizhniy Novgorod region amounts to 4.3 million cubic meters annually, fellings volume hardly exceeding one million cubic meters at that.
In Russia, Stora Enso company already owns paper packaging plants (Arzamas, Nizhniy Novgorod region, launched in 2004, and Balabanovo, Kaluga region) and a sawmill in Nebolchi community (Novgorod region).
Additional information: Stora Enso Oyj, Stora Enso Russia
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