The investments in the timber industry complex of Karelia doubled

According to the preliminary data of 2010 provided by the major companies of the timber industry complex of the Republic of Karelia the scope of investments grew by a factor of 2.3 and equaled to RUR 3.5 bln. The pulp and paper sector received RUR 967.4 mln, these funds were transferred to JSC «Segezha PPM» in amount of RUR 311.4 mln and to JSC «Kondopoga» - RUR 641.5 mln.

The investments to the woodworking companies amounted to RUR 999.5 mln (ООО «Key Forest» received RUR 325 mln, «Kalevala» woodworking enterprise gained RUR 480 mln and Bumex Lahdenpohja Plywood Mill got RUR 95 mln).

Logging enterprises have invested RUR 257.7 mln, including RUR 134.4 mln by Severnaya Logging Company, Inc. and RUR 73.9 mln by Karellesprom Holding Company, Inc.

Further mobilization of investment in the timber processing complex of the republic will be focused on advanced processing of timber and use of forest resources, involvement of low-standard timber and waste wood in production, development of bioenergetics.