The new investment project will modernize production, improve the city's environment and increase output.
The leadership of the Russian division of Silvamo Corporation announced the news at a meeting with the Governor of the Leningrad Region Alexander Drozdenko.
“The company has been operating in the Leningrad region for a long time, the company is one of the largest manufacturers in Russia – almost every second sheet of office paper is produced in our region. Despite the fact that the name and legal form have changed, the course for development remains the same – it is significant that we have been talking about investments since the first year of the creation of a new company,” Alexander Drozdenko emphasized.
Timur Gabidullin, director of the Russian division of the company, shared his plans for the implementation of a new project for the construction of a high-capacity soda recovery boiler SRK-5 to replace the old equipment, which will reduce energy consumption and the carbon footprint of the pulp and paper mill, improve the environmental situation in the city and at the same time increase the production of manufactured products. The total investment in the modernization of production is estimated at 230 million dollars, so, already in 2022, about 2 billion rubles will be invested. The corresponding agreement on strategic partnership is expected to be signed at the St. Petersburg International Economic Forum in 2022.
During the meeting, the issues of the company's participation in the work of the region to reduce the carbon footprint, the application of regional and federal measures to support the announced investment project and investments in the social sphere of the city of Svetogorsk were also discussed. To date, more than $10 million has been invested in the development of social facilities in the city. Work in the field of social priorities in education, healthcare, development of sports and culture will be continued.
Today, more than 1.5 thousand people work at the pulp and paper mill in the city of Svetogorsk, Leningrad Region. It produces office and offset paper, cardboard and thermomechanical mass, the products are in high demand both on the Russian and foreign markets. In particular, the company is familiar with such brands of office paper as SvetoCopy and Ballet.
Sylvamo (NYSE: SLVM) is a global paper company with operations in Europe, Russia, Latin America and North America. The company's name was changed from CJSC International Paper to NCJSC Silvamo Corporation Rus as a result of the creation of a new global paper company. On October 1, 2021 International Paper completed the spin-off of its global paper business, now operating as Sylvamo Corporation.