OREANDA-NEWS. December 28, 2009. Despite financial difficulties, another regional investment project in Smolensk region was approved by the governmental committee, which is reconstruction and modernization of Igorevskiy timber processing mill, the enterprise said in a release.

The company will obtain 766 million roubles (USD 24.7 million) of state support from the Investment Fund of Russia. The project was initiated by the regional administration and funded by the mill itself. The project implementation will be conducted on public and private partnership conditions.

It is planned to build an MDF mill in two years as well develop widely infrastructure of the Kholm-Zhirkovskiy municipality, namely reconstruct the road system, water, heat and gas pipelines. Federal funds will be allocated only for improving social infrastructure.