Germany’s Pfleiderer AG plans to invest e144m in a new fibreboard facility in northwest Russia, according to Russian media reports.
The company plans to build the plant in Podberezye, near the city of Veliky Novgorod, close to Pfleiderer’s particleboard operation, RIA Novosti reports.
The plant, which will have a capacity of 500,000m3, is slated to go on-stream in the third quarter of 2009 and will target the furniture and construction markets in and outside Russia.
The plans have come under attack by some locals, however, who have waged a protest, citing fears the new mill could endanger lives and damage the environment, according to a report in The St Petersburg Times.