North West | Industry, manufacturing

VEB and investors to build $640m in Pestovo pulp-and-paper plant

16 Sep '10
The group of investors intends to invest $640m building the first launch complex of a pulp-and-paper plant in Novgorod region, news agency RIA Novosti reports.

One of the investors is state-run Vnesheconombank, the names of others have yet to be disclosed.

The pulp-and-paper plant, to be located in the town of Pestovo, is reportedly to create about 2,500 local jobs.

Further parameters for the project, including its timeframes, have yet to be disclosed.
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