OREANDA-NEWS. September 11, 2014. A ceremony to open the first stage of a timber processing industrial complex was held in the Boguchan district of the Krasnoyarsk Territory.

The new Complex is to manufacture 440 thousand cubic meters of sawn timberper year. The project has been implemented with VEB’s financial assistance. The Bank provided 15.8 billion rubles.

In the attendance of the ceremony were Krasnoyarsk Territory acting Governor Viktor Tolokonsky, Head of the Boguchan district AlexandrBakhtin, representatives of Vnesheconombank and CJSC Kraslesinvest.

The complex is the largest investment project in forest development on the Russian territory. It is also a unique vertically integrated complex embracing a whole timber processing cycle.

The project is being implemented by Vnesheconombank subsidiary – CJSC Kraslesinvest.

The project’s implementation is instrumental in socio-economic development of the Krasnoyarsk Territory. At present, the number of workers exceeds 500 people but under the project another 500 hundred new jobsare scheduled to be created, tax revenues in budgets of all levels are to amount to at least 3 billion rubles per year after the Complex achieves planned operational targets.