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Canada: Gesco-Star is investing $10 million at Karelia's Medvezhergorsk
|The Canadian company Gesco-Star is investing $10
million in the organization of timber-working production at Karelia's Medvezhergorsk
Logging enterprise, the Karelian administration press service has announced.
The construction of the complex, which began in June, has been discussed between acting administration chief Pavel Chernov and Gesco-Star president Moris Grondin.
The launch of the new facilities is planned for next September. Its handling capacity will be 200,000 cubic meters of timber a year. The complex will sit on more than 5,000 square meters and will include technological lines for raw and seasoned lumber products, and also sawing. Operations are planned to be in full swing by the end of next year.
In 1999, Gesco-Star invested $2 million developing the logging enterprise, which it owns. That money went to the acquisition of modern logging and woodworking equipment that allowed the enterprise to up its activities 50%. Medvezhergorsk Logging has sawmills whose equipment is almost completely outdated.
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