MOSCOW, June 9. /TASS/. The state commission on the Russian Arctic development welcomed the investment project on construction of Segezha West pulp and paper plant, Deputy Prime Minister, Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev told reporters following the meeting of the commission on Wednesday.
"Investment projects were considered from the viewpoint of supporting them as prior. <…> Particularly, Segezha Group’s project on construction of a pulp and paper plant," he said, adding that "in general the commission welcomes it."
An agreement for the joint construction of a new pulp and paper plant in the Republic of Karelia was signed at the St. Petersburg International Economic Forum on June 4. The project will carry out deep processing of pulpwood from Karelia and will enable growth in non-primary exports for high value-added products. Investments in the project to construct a facility with an annual capacity of around 1.5 mln tonnes are estimated at 178 bln rubles ($2.4 bln).