Stora Enso to Study Feasibility of Paper Mill in Russia
July 17, 2007 - Stora Enso said that it has decided to start a pre-feasibility study for a pulp and paper mill complex in Nizhny Novgorod, Russia which will be undertaken in close co-operation with the Russian government.
"Russia is a key growth market for Stora Enso. We have already invested over EUR 300 million in establishing sawmills, corrugated packaging board mills and forest assets in the country. Now we are actively looking into taking the next step, encouraged by good experience with our existing operations in Russia and our unique expertise in all areas from forest management and wood harvesting to chemical pulping and paper manufacturing—many of these capabilities already existing in Russia," said Jouko Karvinen, CEO, Stora Enso.
"We will work closely with the federal ministerial levels and Nizhny Novgorod regional government to establish right investment conditions as regards infrastructure for logistics, forest rights and taxation in relation to the project," Karvinen added.
Stora said if the results of pre-feasibility and complete feasibility studies are favorable, its Board will consider any proposed investment decision.
SOURCE: Stora Enso