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Sumitomo Corporation to build a lumber plant in RF
21.05.2008 12:40
Sumitomo Corporation to build a lumber plant in RF

Sumitomo Corp., a highly built worldwide trading company based in Tokyo, Japan, is determined to invest approximately $175 million in construction of a lumber plant in Russia. This decision is conditional upon increased export duties on round timber. The export duties are to grow from 25% to 80% in January, 2009.
      
      The plant will be constructed in the Maritime Province in the Eastern part of Russia. The plant will be opened for full scale production at the beginning of 2009. The annual turnover is expected to amount to 420 thousand cubic metres.
      
      source:
      Russian Business


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