Segezha Group announces the full buyout of Sistema’s share in the Segezha West project (50%) at par value. As the result of the transaction, the share of Segezha Group in the capital of Segezha West will amount to 100%.
The Segezha West project focuses on the construction of a brand-new pulp and paper industrial complex in Karelia with a production capacity of 1.5 million tons of cellulose per year. At the current stage, the basic engineering of the equipment is completed and the rest of the engineering works is underway. The investments into the project will be attracted through project financing for a separate project company (SPV) and engaging with financial partners.
Segezha Group is a leading Russian vertically-integrated wood and paper holding company with a full cycle of logging and added-value wood processing.
