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Two Large Scale Pulp and Paper Mills to be Built in Russia

Vologda, Russia 09 January 2015 -- The authorities of Vologda region, one of the largest regions in the Northwest of Russia, has officially confirmed that a new pulp paper mill, which is built by the Russian Sveza company will be established on the Rybinsk Reservoir, close to Cherepovets, a city in the west of Vologda Oblast, located on the banks of the Sheksna River, a tributary of the Volga River.

It is planned that the volume of investments in the project will reach US$2 billion, of which about US$500 million will be provided by Russian banks in the form of loans. The new mill is expected to be one of the largest in Russia and Europe.

At the same time there is a possibility that the Vologda plant will not be a single large-scale pulp and paper facility that will be built in Russia during the next several years.

Several weeks ago the authorities of the Novgorod have announced their intention to build a large pulp and paper facility in the territory of the region. The cost of the project is estimated at US$1 billion.

According to Ivan Valentik, head of the Russian Federal Forestry Agency, this will be less ambitious, but no less significant project.


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