Kazakh company from Ultradecor group to build particleboard plant for $150 mln

ASTANA. April 7 (Interfax) - The Kazakh government has approved the signing of an investment agreement with Ultradecor Trading Kazakhstan LLP for a project to build a woodworking plant in the North Kazakhstan region, the government's press service said.

The project, costing 70 billion tenge (more than $150 million at the current exchange rate), will be implemented in 2026-2028. The production capacity of the enterprise will be approximately 600,000 cubic meters of particleboard and 20 million square meters of laminated particleboard per year.

"Its launch will create at least 160 permanent jobs, expand wood processing within the country and increase the output of finished products," the press service said.

The agreement provides for the mandatory use of goods, raw materials, work and services of Kazakh producers. At least 50% of the products will be supplied to the domestic market. After reaching 80% of design capacity, exports of products may reach 60,000 cubic meters per year.

Implementing the project will contribute to the development of the woodworking industry, employment growth and an increase in the export potential of the manufacturing industry, the government said.

Ultradecor Trading Kazakhstan LLP was registered in 2022 and specializes in projects in woodworking and the supply of wood materials. The company is part of the international Ultradecor Group. The latter is connected to one of the world's largest wood panel producers, Kronospan, which implements projects for the production of particleboard, laminated particleboard and other wood materials in Europe, Asia and the Commonwealth of Independent States (CIS).