Igor Vasiliev, the head of the Kirov region, and Andrey Khodasevich, the general director of King of Sofas, signed a cooperation agreement on establishing a furniture factory in the town of Kotelnich by the investor.

"We purchased a set of property and equipment for the furniture factory in Kotelnich, registered a legal entity in the region," Khodasevich said and noted that the company will soon participate in an auction to lease an additional plot of land for the main production facility.

By November the company should receive equipment for manufacturing of plywood for 20 thousand cubic meters per year, which will be put into operation by the end of the year within the first phase. The plant will produce particleboard, birch plywood and cabinet furniture.

The regional government said that the enterprise will operate on a closed cycle, as it will produce raw materials and make a finished product from them.

"A significant part of the investment for the establishment of the enterprise will consist of own funds, and the missing part is planned to be attracted in the form of loans from the industrial development fund," the government said.

The project is to be implemented by 2023.

Made in Russia // Made in Russia

Author: Ksenia Gustova