omniture

Stora Enso Starts Pre-Feasibility Study for a World-Class Pulp and Paper Mill in Russia

2007-07-18 18:51 4568


HELSINKI, Finland, July 18 /Xinhua-PRNewswire/ -- Stora Enso 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. The objective is to manufacture paper for Russian consumers from Russian wood -- in Russia.

"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. 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," says CEO Jouko Karvinen.

If the results of pre-feasibility and complete feasibility studies are favourable, the Stora Enso Board of Directors will then consider any proposed investment decision.

Previous press releases concerning Stora Enso's recent major projects in Russia are available at http://www.storaenso.com/press .

-- 7 March 2007: Stora Enso expands its corrugated packaging business in

Eastern Europe and Russia

-- 24 May 2006: Stora Enso expands its corrugated packaging business in

Russia

http://www.storaenso.com

http://www.storaenso.com/investors

About Stora Enso

Stora Enso is an integrated paper, packaging and forest products company producing publication and fine paper, packaging board and wood products - all areas in which the Group is a global market leader. Stora Enso's sales totalled EUR 14.6 billion in 2006. The Group has some 44 000 employees in more than 40 countries on five continents. Stora Enso has an annual production capacity of 16.5 million tonnes of paper and board and 7.4 million cubic metres of sawn wood products, including 3.2 million cubic metres of value-added products. Stora Enso's shares are listed in Helsinki, Stockholm and New York.

Source: Stora Enso
Keywords: Food/Beverages
collection