MOSCOW TIME: 22.08.2019 05:52:33

Chinese will Invest up to RUR 1 Billion into Buryat Timber

Chinese will Invest up to RUR 1 Billion into Buryat Timber

In the end 2015 joint Chinese-Russian milling plant starts operating in Ulan-Ude (Buryatia)- reported press-service of the Republic Regional Development Fund (RDF).



Chinese will Invest up to RUR 1 Billion into Buryat Timber


In the end 2015 joint Chinese-Russian milling plant starts operating in Ulan-Ude (Buryatia)- reported press-service of the Republic Regional Development Fund (RDF).


Investment project implementation agreement was signed between RDF and Chinese-Russian LLC "CRJK" this August. At that moment estimated volume of investments made up RUR 450 million. After detailed examination the investor made a decision to expand volume of investments up to RUR 1 billion.


The plant will be involved in harvesting of wood and milling. Operation to be based on closed cycle principle of non-waste clean production involving complete reforestation. Waste from production of construction materials and wood will be used to produce fuel pellets. First lot of production to come out by the end of 2015. In 2020 the complex will reach its full production, increment in tax revenues will make up RUR 70 million a year.



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