Sveza to Build New Pulp Mill in Vologda Region of Russia
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Sveza, one of Russia’s largest financial and investment groups, plans to invest up to $2 billion to build a large pulp mill in the Vologda region of Russia. The project will be implemented on the basis of public-private partnerships, while the majority of funds for it (up to 90%) will be allocated from the investor’s own sources.
Under terms of the contract, Sveza will be responsible for construction of the plant itself and putting it into operation. At the same time, the government will focus on establishing an external infrastructure for the project, including transport and energy, as well as the provision of tax incentives.
The new plant will create up to 2,000 jobs and will be one of the world’s most economically-friendly pulp mills in the world, the company said.
