CentroWoodCom, LLC is to construct a woodworking complex in the Ust-Kulomsk district, Republic of Komi, with annual production capacity reaching about 750 thousand cubic meters of finished products.

CentroWoodCom (70% of stock belongs to Centrozap SA – Poland) will invest 76 mln 915 thousand Euro (2 bln 769 mln rubles), of them 43 mln 425 thousand Euro is to be used in 2008-2009 and 33 mln 490 thousand Euro – in 2010-2011. The company plans to use own money and apply for a credit to the amount of 692 mln rubles.

The project is to be realized within 4 years. The first stage (2008-2009) includes construction of a sorting and transportation line, a profiling and cutting line, drying kilns and vacuum driers, power station, facilities for pellet production, etc. The second stage (2010-2011) involves construction and launch of the line for final wood processing and finished product manufacture.

Currently the project documentation is being developed. Besides, local authorities included the project in the list of priority projects. Thus, the company will have the right to lend the forest area of 600 thousand ha for 49 years with harvesting area making up 12.3 thousand ha per year.

Reference:
Centrozap SA is an investment-production-commercial holding, acting in foundry, wood, steel, chemical, machinery, metallurgy, energy and raw materials markets. In the area of the Company investment activity are both companies requiring the radical restructuring, new investment projects and industrial investments in the area of deliveries and services complementation.

Business Support Bureau "Runa" www.runa.info