Viru Keemia Grupp (VKG), an Estonian holding group of oil shale industry, power generation, and public utility companies, plans to build a large-scale production of pulp in the Ida-Viru County of Estonia soon.
According to the company, the new complex will produce pulp, that could be supplied for the needs of textile and other sectors of the country.
As an official spokesman of VKG said, Estonia has wood resources necessary for such production, which are now exported in the form of wood for pulp production and wood chips, as well as burned for the production of electricity and heat. According to the company, the planned complex will significantly increase the added value of wood raw materials, providing export income of 285 million euros per year and direct added value of 250 million euros, as well as creating 1,000 new jobs in Estonia, including 250 directly in production.
The planned capacity of the new production will vary from 330,000 to 500,000 tons per year, which will require up to 2.3 million cubic meters of wood.
According to plans of the company, the complex can be commissioned no earlier than 2026. The volume of investment in the project is estimated at almost 800 million euros.
By: Eugen Gerden