Russian furniture company to construct a new woodworking plant worth 1 bn rubles

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govvrn/Fordaq
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Alexey Gorvedeev, the head of the Russian furniture holding "Mebel Chernozemya", presented an investment project contemplating the construction of a new woodworking plant in Voronezh Region, Russia. The plant in question would focuse on added-value wood processing. 

The estimated value of the project comes up to 1 billion rubles or about US$15,22 million. There will be created 300-500 new jobs. The plant is planned to manufacture sliced and sawn veneer, wood flooring, mouldings, and hardwood furniture.

According to Mr. Gorvdeev, now Russia should be focused on import-substituting products manufacturing, since the price of the imported goods keeps growing. Thus, earlier on, sliced veneer was imported from Ukraine, now Russia buys it from Canada. High-priced raw materials make the end product uncompetitive. That's why the investment project was supported by the local government. 

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