The pulp mill project in Russia's Krasnoyarsk region does not fit into the company's future strategy, according to Swedish pulp and forest products manufacturer Södra.
Södra will not participate in Angara Paper's greenfield pulp mill project in the Krasnoyarsk region in Siberia. Södra said the company was invited by Angara Paper to serve as the industrial partner and to market and distribute the pulp produced at the new mill, but now it has decided to abandon the project.
"The scope of the project has changed from the original plan. From our perspective, the project no longer fits in with our future strategy and we have therefore chosen not to continue with our involvement," said Gunilla Saltin, Acting CEO and President of Södra Cell in press release on 16 January.
Angara Paper plans to build a 1.2 million tpy bleached and unbleached hardwood pulp mill in Lesosibirsk, Russia. In September 2012, the company has signed an agreement with the Japanese Marubeni Corporation, who will be responsible for machinery, procurement and for overseeing the construction of the production facility. Construction work is expected to begin early this year. Angara Paper and Marubeni put the investment cost at €2.7bn.
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