Producer of packaging and paper Mondi, a division of Anglo American, will invest 875 mln Euro in enhancement and retrofitting of mills in Russia and Poland within two years.

Enhancement of the capacity and efficiency of the company’s mill in Russia will require 525 mln Euro, the rest will be invested in the Polish plant.

“We are getting double profits from low costs and a rapid growth on the developing markets, the company’s head David Hathorne explained. The countries with developing economies are rich in wood. We have unlimited possibilities there”.

Mondi receives 45% of its revenues on the developing markets. It operates in 34 countries, nearly two thirds of the company’s assets being located in the developing countries. In Russia, Mondi owns Mondi Business Paper - Syktyvkarsky LPK, OJSC.

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