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GRODNO, 16 August (BelTA) – Austrian Kronospan Holding LIMITED has started to build a wood processing plant in the town of Smorgon, Grodno Oblast, BelTA learned from the Economy Department of the Smorgon District Executive Committee.
The $150 million investment project will be implemented within three years. To date the company started to construct administrative facilities in the Northern industrial zone of the district capital. The investor bought idle facilities and territories which belonged to Smorgon Aggregate Plant. Over $4 million have already been pumped into the construction project. In November 2011 there are plans to deliver and install the first equipment. By the end of the year the FDI inflow will make up about $30 million. The production will be launched in H1 2012.
The new plant will process 1.5 million cubic meters of wood and produce laminate flooring (laminate chip board and medium density fiberboard and other materials) using sophisticated technologies. The company will be an export-oriented one. There are plans to employ 300 people.
Kronospan Holding LIMITED is the world’s largest manufacturer of wood panel products and laminate flooring. It is the largest investor in Central and Eastern Europe. The company operates 30 branch offices in 18 countries and employs 11,000 people. The annual sales are €2.7 billion.
