The Japanese Lida Group to build a wood processing plant in the Russian Far East

Thursday, Jan 28, 2016

The Japanese Lida Group Holdings intends to invest 10 billion yen (about $84.3 million) in various construction projects abroad. One of these projects is the wood processing plant in the Russian Far East.

According to the Japanese magazine Nikkei Asian Review, Iida Gruppo has recently acquired 25% of shares of the Russian forestry company - Primorsklesprom - for 500 million yen.

In 2016, Lida Group is planning to start the production of wooden houses and build a wood processing plant near Vladivostok, Russia. Lumber will also be partially exported to Japan.

Lida Group also plans to access such markets as USA, China, Southeastern Asia. According to the magazine, the Japanese company's goal is to increase sales on the foreign markets due lack of demand on the domestic market.

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