China's Xinjiang Zhongtai Group partners to invest Rouble 50 billion for building pulp mill in Siberia

Wednesday, May 13, 2015

China's Xinjiang Zhongtai Group together with its partners Xinjiang Fulida Fibre and the RosKitInvest firm are set to invest Rouble 50 billion ($0.99 billion) in the construction of the Beloyarsk greenfield pulp, paper and sawing mill in the Verkhneketskiy district in western Siberia, Russia.

According to the memorandum of understanding and cooperation in the field of the timber industry and trade signed by a member of the Xinjiang Zhongtai Group's board and the governor of the Tomsk region last week, the investment will see the construction of a 500,000 tonne/yr unbleached pulp mill, a 500,000 m3/yr sawmill and a 12 MW power plant, all scheduled to come online in Q4 2019 - Q1 2020. It will take two years to complete the engineering work, and then construction work is planned for 2017-2019. The mill will use around 5 million m3/yr of forestland.

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