Ilim and Arkhangelsk Oblast Administration Sign Cooperation Agreement
OREANDA-NEWS. June 27, 2012. An Agreement on Social and Economic Cooperation was signed between Ilim Group and the Arkhangelsk Oblast Administration. The Agreement was signed at the St. Petersburg International Economic Forum by Paul Herbert, Chief Executive Officer of Ilim Group, and Igor A. Orlov, Governor of the Arkhangelsk Oblast. Mr. Zakhar Smushkin, Chairman of the Board of Directors of Ilim Group, also participated in the signing ceremony.
The Agreement is aimed to lay down the foundation for long-term partnership to implement social, industrial and financial programs promoting comprehensive development of the Arkhangelsk Oblast, create favorable investment climate to encourage investment into the region, and ensure environmental and industrial safety.
The Agreement is based on mutual interest of the parties in resolving common issues, partnership and consolidation of resources and efforts, and information transparency.
Currently, Ilim Group is implementing its priority investment project in forest development with a total investment of RUB 14,9 billion in Koryazhma (Arkhangelsk Oblast). As part of this project, a new NSSC plant was launched in 2009. The construction of a paper machine for production of high-grade cut-size and offset papers in Koryazhma (Arkhangelsk Oblast) with an annual capacity of 220,000 tons, including 70,000 tons of coated papers per year is now underway. Ilim Group will be the first manufacturer of coated freesheet paper in
The Agreement enters into force on the date it is signed and is open-ended.