OREANDA-NEWS. May 21, 2012. Twelve large investment projects should be completed in Karelia in 2012. In September it is supposed to launch the first phase of Kalevala Woodworking Enterprise Ltd. producing oriented strand boards (OSB) in Petrozavodsk urban district. It will be the first in Russia enterprise producing brand new timber-based material for low-rise housing construction. At first, the enterprise will produce about 300,000 cubic metres of production; in the further it is planned to achieve the volume of 500,000 cubic metres of boards a year. The volume of investments within the project makes more than 6 billion roubles.

This summer it is also planned to launch a factory of Key Forest JSC in Sortavala metropolitan region. Investments make 720 million roubles. In 2011 to implement the first stage of construction including building up and start up of a green-end production timber mill it has been invested 65 million roubles. At the moment, the enterprise works under conditions of precommissioning.

Modernization of Ladoga timber works able to process up to 40,000 cubic metres of converted timber a year will be completed in the settlement of Hiidenselga, Pitkaranta region. It is planned to start up the factory producing fuel granules in Kostomuksha.

This year a number of quite important investment projects of modernization of mining enterprises will be performed. More than half a billion roubles is invested in construction of road metal opencast mine at the Golodai-Gora deposit in Prionezhsky region by Onego Quarry Ltd. Production of slates at Myagroozersky deposit in Medvezhiegorsk region (Schungite-M Ltd.) with 100 million roubles of investments will be established.

Karelstroymekhanizatsiya JSC also supports modernization of production. This year additional capacities producing wall panels and cavitated floor slabs at the concrete products plant were commissioned. It has been invested 250 million roubles to renovate the production.

This year it is planned to build a factory producing sublimated products and juices in Kostomuksha urban district (Yagoda Karelii (Berry of Karelia) Ltd.). Investments make 600 million roubles.

On results of 2011, taking into consideration extracting and processing sectors of economy, segments of real estate and municipal infrastructure, the volume of fixed capital expenditures in the Republic of Karelia for all organizations, according to the estimate of the Ministry of Economic Development PK, has made 29,7 billion roubles, or 125% compared to the previous year. As a result of implementation of investment projects it is supposed to create 1700 new vacancies.

The Ministry of Regional Development of the Russian Federation has considered 10 Karelian projects submitted for inclusion in the list of priorities in the Northwest Federal District. On results of consideration, four projects are put on the list: Construction of Deep-Water Seaport in Byelomorsk, Reconstruction of Engineering Facilities of Besovets Airport Complex, Construction of OSB Enterprise and Reconstruction and Construction of Objects of Small Hydrogeneration in Territory of the Republic of Karelia. Total amount of investments within the priority projects makes 30 billion roubles.