Swiss GS Group Invests USD37,3 mn to Build Sawmill in Russia
OREANDA-NEWS. August 19, 2013. Lesozavod Sudoma (subsidiary of Swiss GS Group) has started on August, 15 construction of the new sawmill in Dedovichi village (Pskov region of Russia), group said in a statement. The facility will mainly produce thermo-treated and planed lumber. The volume of output is estimated as 61.5 thousand m3 a year.
GS Group holding will invest 1,228 billion rouble (USD 37.3 million) into the factory construction. It is expected to be completed and put into operation by the end of 2014. Sudoma wood factory is to reach the planned capacity by mid-2015.
GS Group investment project dealing with added-value wood processing in Dedovichi was launched in 2012 and is to be completed by 2016. A total amount of the holding’s investment amounts to 3.177 billion rouble. The project includes timber logging and forest regeneration. Its first stage was finished in 2012, the holding invested 409 million rouble. Growing forest transplants is one of the activities within the project scope, which is supposed to provide high quality stock material for forest regeneration. Transplants will be cultivated in a container nursery (containerized seedlings). Production capacity of the container nursery is set at two million seedlings a year.
The second stage of the project is the construction of Sudoma added-value wood processing facility. The third part is the intensive development of the project, GS Group will invest 1.54 billion roubles at this stage.