Segezha Group to build 8.8 bln rbl plywood plant in Kostroma Reg
YAROSLAVL, Jul 26 (PRIME) -- Russian pulp and paper producer Segezha Group, part of multi-industry holding Sistema, plans to invest 8.8 billion rubles in a large plywood plant that it will build in the Kostroma Region by 2021, the regional government said in a statement late on Wednesday.
The plant will produce about 130,000 square meters of plywood per year.
Galich, a town, where the plant will be built, has applied for a status of an advanced development territory, and the Economic Development Ministry approved the bid. After coordination with all the ministries, an investor in the city would be eligible for preferences, including a reduced corporate profit tax, value-added tax, and corporate property tax.
(63.0836 rubles – U.S. $1)