OREANDA-NEWS. October 26, 2010. The EBRD is considering providing loans totaling up to 26.45 million euros to IOOO VMG Industry to finance the development of a greenfield integrated wood processing complex including a particleboard plant, a furniture plant and a layer-glued product plant in the Free Enterprise Zone Mogilev, eastern Belarus, the EBRD said in a statement.

The projects is pending final review by the EBRD Board on November 9, 2010.

IKEA Supply AG will act as main off-taker to the project.

IOOO VMG Industry, a company newly set up by UAB VAKARU MEDIENOS GRUPE (‘VMG’).

VMG is a leading Lithuanian particleboard and furniture producer with IKEA as trading partner.