Ilim Group increases production 4% in 2011
ST. PETERSBURG. Dec 23 (Interfax) - Ilim Group increased production of pulp and paper goods by 4% to 2.6 million tonnes in 2011, the company's general director, Paul Herbert, told journalists on Friday.
Herbert said that "this year has become good for us in terms of production. We invested a lot."
He added that Ilim Group invested $600 million in its projects and operations this year.
Ilim Group's main investment projects are the Bolshoi Bratsk project with total investment at $700 million, which foresees the modernization of Bratsk Pulp and Paper Plant, as well as the construction of a papermaking machine at the company's branch in Koryazhma, Arkhangelsk Region, worth $270 million.
Herbert said that both projects are in an active stage. The completion of construction and setup work is slated for the second half of 2012. The facility will be launched in the fourth quarter of next year.
The group's total investment until 2014 comes to $1.4 billion.
Ilim Group completed its reorganization in early July 2007. The group was formed from Ilim Pulp assets by switching Kotlas Pulp and Paper Mill , Bratsk Pulp and Containerboard Mill, Bratskkompleksholding, and Ust-Ilimsk Pulp Mill to a single stock and merging them with Ilim Group.
The combines became affiliates of the group and are located in Koryazhma, Bratsk, and Ust-Ilimsk. The company's head office is in St. Petersburg.
