OREANDA-NEWS. November 9, 2011. Binder Holz, the company from Austria, is ready to implement the investment project of constructing a saw-mill in the town of Kem. In the Ministry of Economic Development of Karelia the protocol of intentions between the Government of the republic and Binder Holz was signed by Valentin Luntsevich, Deputy Head of the Republic of Karelia and Minister of Economic Development, and Hans Binder, Chairman of the board of Binder Holz, Austrian woodworking company.

The enterprise is expected to be established on the basis of timber mill of Kem and timber industry enterprise of Paozero. Total amount of investments within the project will make €40 million. The protocol of intentions defines the basic goals of the project: creation of favorable investment climate for construction of a woodworking complex in territory of the republic, creation of up to 500 new jobs. The first phase will last up to the end of 2013 and assumes reconstruction of round timber processing enterprise with a capacity of 500,000 cubic metres a year, creation of factory producing up to 100,000 cubic metres of dressed timber a year. In the future it is also planned to produce fuel granules in the volume of up to 50,000 cubic metres.

Binder Holz is the largest timber-processing company in Austria. The annual volume of processed timber makes about 3 million cubic metres. The basic kinds of its output products are: plank timber, wood trim, glued boards.