The president of the Russian furniture company "MebelChernozemya" Alexey Gorvedeev, made a presentation of investment proposal involving the establishment of a new woodwork plant  in the Voronezh Region of Russia. The major focus of the proposed plant would be on added-value wood processing.

The project has been estimated to cost about 1 billion rubies which is equivalent to US$15, 22 million. The proposed plant will be responsible for the creation of 300 -500 new jobs in the region.  The proposed plant will produce wood flooring, sliced and sawn veneer, hardwood furniture and molding.

Mr.Gorvdeev further reiterates that the focus of Russia should be on manufacturing import-substituting products. Prior to this time, Ukraine was the main supplier of sliced veneer to Russia. The same product is sourced from Canada at the moment. Because of the high cost of raw materials, the final product is uncompetitive. This is the major reason why the investment proposal had the backing of the local government.