Partner Tomsk OSB board plant to be reviewed by Vnesheconombank in October

ZAO LPK Partner Tomsk will present its 120 million euro OSB board plant project to Vnesheconombank's Credit Committee in October.

It was reported earlier that Partner Tomsk planned to start building the plant in early 2012 and complete it by 2014. The annual design capacity of the plant is 250,000 cu.m. The construction site is located near the MDF board plant owned and operated by Partner Tomsk.

The total cost of the project is 120 million euros. Partner Tomsk plans to borrow 105 million euros from Vnesheconombank and use its own capital to finance the rest of it.

Whether the project will see the light of day now depends on the positive resolution by Vnesheconombank's management board.

Oleg Burlevich, Chairman of Partner Tomsk's Supervisory Council explains, "The moment the bank's management board takes the decision to extend the loan the construction is immediately started".

He says, the plant will be completed in 1.5-2 years.

A Partner Tomsk representative informed that the new product will be sold in the same markets as MDF board – Russia, Central Asia and Iran.

ZAO LPK Partner Tomsk is a large MDF board production facility in Tomsk Region. It was started up in 2010 and has already ramped up to the full annual capacity of 264,000 cu.m. The facility has its own harvesting operations.

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