Mitsui Invests in Timber Processing in Buryatia
- The Moscow Times
- Aug. 12 2013 15:38
- Last edited 15:38
Japanese trading company Mitsui & Co. will invest almost 1 billion rubles ($30 million) in the republic of Buryatia's timber processing industry, Vedomosti reported Monday.
On Aug. 5, Matsui agreed to buy a 40 percent stake in timber felling company Baikalskaya Lesnaya Kompaniya, a
Of the money invested, 720 million rubles will go toward the construction of a plant for processing sawmilling by-products and manufacturing biofuel pellets.
The proceeds from a secondary offering of shares will be used to refinance its arrears with Sberbank, BLK CEO Evgeniy Pruidze said.