Local Authorities Approve Ilim Group Investment Project In Irkutsk Oblast

Ilim Group's investment project aimed at extending current facilities and establishing new advanced woodworking production units in Siberia was approved by the Investment Council under Irkutsk oblast governor today.

According to the five-year project, Ilim Group is to raise its pulp output capacities through modernization, as well as to launch a paper-making machine at the Group's Bratsk branch. As a result, commodity output is expected to rise from 1.43 mln tonnes in 2007 to 1.64 mln tonnes in 2012.

In the nearest future, the project will be submitted to the Ministry of Industry and Energy of the Russian Federation in order to gain the status of a priority project.