VEB injects over RUB100bn into forest industry

Vnesheconombank’s investment in forest industry projects has exceeded RUB100 billion. As Director of Wood Processing Complex Division Pavel Bilibin pointed out in his speech at the “Forests and Timber Processing: from Timber to Pulp and Paper Factories” Panel Discussion of the Eastern Economic Forum, VEB is implementing eight “forest” projects, all of which are top priority for forest exploitation.

Woodworking facilities are located in four federal districts of the Russian Federation: South, Central, North and Far Eastern. In particular, VEB is providing financial support for three timber processing projects delivered in the Russian Far-Eastern Federal District by Arkaim Joint Venture Limited Liability Company, RFP Group, and Asia Les Limited Liability Company. VEB’s investment in these projects approximates RUB100 billion.

In 2016, three enterprises built with Vnesheconombank’s financial backing were brought into operation: Kraslesinvest’s Sawn Wood Complex, Sibles Project’s Pellet Production Facility in the Krasnoyarsk Territory, and STOD’s OSB production facility in the Tver Region.

Pursuing the government policy of developing the forest industry, Vnesheconombank has approved the pre-project works for the construction of the first ever pulp mill using Kraslesinvest’s facilities in the Krasnoyarsk Territory.

Press Office