Woodway Group launches glue-laminated project in Komi

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Moscow company Woodway Group intends to implement a €50mln glue-laminated structure project using facilities of Knyazh-Pogost fiberboard plant (Knyazh-Pogost, Republic of Komi).

The first stage of the project will be a new sawmilling shop, the second - production of glue-laminated house kits (glued timber and joists) with the rated annual capacity of 25 thousand m3.

The Northern Investment Forum “Strategic Management Development in Russia: Challenges, Approaches, Goals” held on 12-16 September in the Republic of Komi, hosted a meeting between Valery Saykovskiy, chairman of the Woodway Group Board of Directors and chairman of Confederation of Forest Industry, and representatives of the local government. He offered Komi mechanisms to attract investors ready to fund long-term projects of constructing woodworking plants with the cost of €50mln each. The parties came to an agreement. Komi government officials noted that relevant regional ministries and agencies are to be involved in the working out and preparation of resolution on a pilot investment project relating to the construction of a woodworking plant in the republic.

This news was prepared by the Editorial Board of the "Russian Forestry Review" magazine
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