JSC Volga has completed a priority investment project of 1.5 billion rubles in the Nizhny Novgorod region

To implement this investment project on the expansion of the thermomechanical pulp (TMP) production, included in the order of the Ministry of Industry and Trade of the Russian Federation No. 2317 dated June 28, 2019, JSC Volga leased forest plots in the Varnavinsky district of the Nizhny Novgorod region with a total area of more than 100 thousand hectares. In fact, the funds attracted to the investment project amounted to more than 1.5 billion rubles.

Within the framework of the project, the implementation of which JSC Volga started in 2018, the high-tech production of thermomechanical pulp was expanded, 240 employment opportunities were created, more than 150 km of forest roads were built and reconstructed.

“The completed priority investment project in the area of forest development turned out to be one of the company’s largest projects over the last few years, and it has laid a solid foundation for the implementation of the new development strategy aimed at expanding the production of packaging grades and cartons,” noted JSC Volga CEO Sergey Pondar.

“Its implementation allowed the company to increase the thermomechanical pulp production volumes to 60 000 tons per year. In addition, I’d like to emphasize that not only was this project aimed at increasing the productivity of the enterprise, but also at creating new jobs, including those for the local population of the Varnavinsky district in the Nizhny Novgorod region. Largely due to the joint productive work with the regional government, federal business support tools, our company is now increasing the production of high-quality goods, creating new jobs, paying taxes, which ensures the development of the region. Recently we have started implementing a new investment project on the conversion of the paper-making machine No. 6. To ensure the growth of raw materials production in sufficient volumes, we will need to expand the estimated cutting area by at least 2 times. We count on the government's support for our upcoming investment projects, which will make JSC Volga an even more serious player in the market of packaging paper both in Russia and abroad.”