The Industry Development Fund approved a loan of 500 million rubles to RFP Wood Pellets LLC.
The project aims at construction of a new pellet plant with a capacity of 90 thousand tons in Amursk, Khabarovsk region. The new enterprise will create 80 jobs, future tax revenues will be about 30 million rubles a year.
Pellets will be exported to Japan and Korea as biofuel for industrial consumers.
Pellet production will use wood chips and sawdust from veneer and lumber plants in the amount of more than 500 thousand m3 per year. In addition, non-industrial wood and harvesting residues may be used.
"The company is implementing an important project for the forest industry of the Far East. The loan provided by the Industry Development Fund will allow for a shorter return on investment and will help to implement the project efficiently and in a timely manner," commented Dmitry Valtfogel, General Director of Managing Company RFP Group.