US company International Paper signed an investment agreement with the Leningrad region administration yesterday to construct a new plant at Svetogorsk pulp and paper mill. As a Rosbalt correspondent reports, this was announced by Regional Governor Valery Serdiukov yesterday. He said that the American company was investing about USD 8.33 million in the construction of the new plant. Construction is expected to get under way in September 2003 and will be complete by 2005-2006.
The Russian government issued a decree on August 19, 2002, scrapping customs duty on A4 paper. Svetogorsk pulp and paper mill is owned by International Paper.
After it turned out that Deputy Prime Minister Andrei Belousov included the Fonbet betting company in the list of backbone enterprises that can count on state support, everyone started talking about these bookmakers.