OREANDA-NEWS. Vnesheconombank's delegation and representatives of LLC Sibles Project participated in the ceremony to open an integrated sawmill in Verkhnepashino of the Krasnoyarsk territory.

Vnesheconombank is responsible for funding the construction of an integrated sawmill to manufacture 157 thousand cubic meters of sawn timber per year. The total value of the project being implemented by LLC Sibles Project is 3.1 billion rubles, with Vnesheconombank's participation share being 2.8 billion rubles. The integrated sawmill is scheduled to be launched in the second quarter of 2014. In the future the sawmill's production capacity is scheduled to be expanded to 286 thousand cubic meters and there are also plans to launch the production of fuel pellets with a capacity of 62 tons a year.

Once the integrated facility reaches its rated capacity the Bank will start to fund an integrated production facility to manufacture wall panels for timber housing construction, plywood and veneer in the city Sosnovoborsk. The total value of the project is 2.3 billion rubles; Vnesheconombank's participation share is 1.5 billion rubles.

These projects' implementation would enhance socio-economic development of the Krasnoyarsk territory and give an impetus for the development of the whole Siberian Federal District. As a result of these two projects' implementation budgetary revenues of all levels would amount to more than 1 billon rubles, 400 jobs are scheduled to be created at the production facility itself and in related sectors.