On 21 December 2017 Ukrainian Sawmills, a Ukraine-based company with Swedish capital, opened a woodworking plant in Kostopil (Rivne region) that will manufacture pine sawn timber for production of furniture, joinery and construction materials, the press service of Rivne Regional Administration has announced, Interfax-Ukraine reports.
“We are launching this plant in Kostopil that will finish the initial stage of our investment project. Ukrainian Sawmills is a high-tech production facility that is capable of manufacturing 300,000 cubic meters of products that meet European standards of quality. We invested around €25 million in this project and created 150 jobs in Kostopil,” the press service said citing the Swedish co-founder of the firm Johan Dunback.
The Kostopil plant was opened by Ukrainian Deputy Prime Minister and Minister for Regional Development, Construction, Housing and Utility Services Hennadiy Zubko, his deputy Lev Partskhaladze and Head of Rivne Regional Administration Oleksiy Mulyarenko.
According to the press release, the project became feasible with the introduction of a moratorium on the export of unprocessed wood in the country. This was the decisive factor for the investors.
“The opening of this plant proves that Rivne region is attractive for investors and it is comfortable and commercially viable for them to invest here. We will be able to abandon the primitive export of wood, we will process it ourselves, thus creating new jobs, filling local budgets with revenue and developing the woodworking industry in the region altogether,” Mulyarenko said.
Ukrainian Sawmills was founded by Swedish investors in 2014 and it is a leading producer of high-quality redwood sawn goods in Ukraine. Its plant is equipped with modern Scandinavian sawmilling, kiln-drying and quality-sorting technology.