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2016-05-23 00:00:00
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Kronospan, a privately-owned company seen as a global leader within the wood-based panels market, will be buoyed by the news coming from the European Bank for Reconstruction and Development (EBRD) after they announced two separate long-term loans worth up to €190 million. Currently, the company has two plants in Belarus and Russia which both use low-quality wood that is considered elsewhere as ‘waste’. As a part of EBRD’s strategy to boost the forest products sector, the loan will be used to maximise forest management in two countries where resources are currently severely underused.
With the loan, Kronospan plan to open a €200 million facility which will be the first of its kind in Belarus to manufacture oriented strand board (OSB). Once finished, the strong wood-based panel that is commonly used in the building sector will be produced in droves as capacity is set to reach half a million cubic metres.
Of course, this isn't the first time that the EBRD has helped Kronospan after previously working with them in two different projects. In order to facilitate exports, the plant will be built near the border to Russia within the Mogilev Special Economic Zone.
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