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Regional Government: Investment project "Production of Small Wooden Items" approved

A regular meeting of the Investment Commission under the auspice of Governor Igor Orlov has been held at the Government of the Arkhangelsk Region. At the meeting, the experts of the Arkhangelsk Regional Development Corporation presented the investment proposal "Production of Small Wooden Items" which was approved by the Investment Commission.

In December 2018, the Arkhangelsk Regional Development Corporation formulated its sixth investment proposal "Production of Small Wooden Items". These items include chopsticks for eating East Asian food, popsicle sticks and medical tongue depressors.

The data on imports show a lack of such industries in Russia and therefore a very large amount of these items originate in other countries.

The project by the Arkhangelsk Regional Development Corporation envisages the use of birch raw material, which has antiseptic properties, which is important in the production of wooden items intended for food and medical purposes. Besides, the expected high rate of return will be crucial for any investor.

Overall planned production is estimated at 60 million pieces per year. The project envisages cooperation with correctional institutions of the region. The potential project location are Onezhsky, Plesetsky and Velsky districts.

Implementation of the idea requires investment of little more than 18 million roubles with a payback period of 13 months. The proposal is designed to attract Russian and foreign businesses to the region, to those niches of the regional economy which are not yet occupied.

"This is a quite obvious market niche, especially since the resource and raw-material base of our Region enables such project", said Governor Igor Orlov.

The information was noted and approved by the participants of the meeting of the Investment Committee. More detailed data about the investment proposal are available (in Russian) on the website of the Arkhangelsk Regional Development Corporation.

Arkhangelsk Regional Development Corporation