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Kirov Timber Processing Plant to Be Modernized for 1.12 Billion Rubles

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Kirov Timber Processing Plant to Be Modernized for 1.12 Billion Rubles

The Krasny Yakor timber processing plant in Kirov will be upgraded for 1.12 billion rubles.

According to the regional government, 499.7 million rubles of this amount will be allocated as a loan from the Industrial Development Fund. The company manufactures birch plywood of high grades. It is widely used in construction, furniture manufacturing, transport vehicles and for packaging.

It is expected to increase the share of high-grade plywood in the total output.

The total budget of the project is 1.12 billion rubles.

The Industry Development Fund is a government agency that aims to improve the global competitiveness of Russian industry and support import substitution.

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Author: Maria Buzanakova

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