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Turkish company launches $600 mln timber processing plant in Russia

September 24, 2014, 18:48 UTC+3 YELABUGA
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YELABUGA, Tatarstan republic, September 24. /ITAR-TASS/. Turkey’s Kastamonu has launched a timber processing plant with total investments standing at $600 million in Russia’s Tatarstan republic on Wednesday.

Investments in the launched first stage amounted to $300 million. The facility produces medium density fiberboards and floor coatings with capacities standing at 475,000 cubic meters and 20 million square meters, respectively.

The second stage encompasses launch of chip board production with a capacity of 725,000 cubic meters in 2016. The third stage launch is slated for 2017-2018 and envisages production of 500,000 cubic meters of oriented strand boards per year.

Kastamonu plans to occupy 20% of Russia’s wood board products market, CEO Haluk Yildiz said.

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