Segezha to build new pulp and paper mill in Karelia

04 Jun 2021 − 

Segezha group and partners to realise a giant 1.5 million tpy pulp and paper mill and create 700 jobs in the region.

Segezha Group has signed an agreement with Russia's national economic institution VEB.RF for a joint construction of a new pulp and paper plant in the Republic of Karelia. The "Segezha West" project is to be realised at a total cost of RUB178bn. 

Financing for the construction of the plant would be provided by VEB.RF, Segezha announced. Segezha has also signed two strategic cooperation agreemnts with the VTB and SBER banks to finance the "Segezha West" project.

According to Segezha, the industrial complex  will create a unified industrial cluster, which will also include JSC Segezha PPM and LLC Segezha Packaging. "The project will carry out deep processing of pulpwood from Karelia and will enable growth in non-primary exports for high value-added products," the company announced.

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