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. Last Updated: 07/27/2016

Sumitomo in Far East

VLADIVOSTOK, Far East () -- The Japanese company Sumitomo plans to invest more than $20 million in two ventures to create a wood-processing plant and a lead factory in the Russian Far East, an official said Tuesday.

Vladimir Stegny, deputy governor of the Primorsky region in the Far East, said Sumitomo would invest $20 million to start a wood-processing joint venture.

Sumitomo also plans to invest $1 million in a factory to produce lead, the Itar-Tass quoted Stegny as saying.