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Ilim Group's Angara Investment Project Estimated at RUB 18.7bn

19.08.2011

Dmitry Mezentsev, Governor of the Irkutsk Oblast, met with Ilim Group's BoD Chairman Zakhar Smushkin. The meeting was also attended by Alexander Lobakov, Deputy Governor, Sergey Anikeev, Minister for Economic Development, Labour, Science and High School, Nikolay Penyushkin, Forestry Minister, as well as Vladimir Slavutskiy, Ilim Group's Deputy CEO/GR Director, and Alexander Lutsenko, Director of the Company's Irkutsk Representative Office.

The meeting was held to discuss Ilim Group's progress with its investment projects implemented in the Angara Region with a total installed cost of RUB 18.7 billion. As at July 1, 2011 actual capital spending allocated to purchase P&P making equipment and state-of-the-art harvesting machinery and log trucks reached RUB 14.3 billion. Ilim Group is 77% in line with the schedule.