Business news from Ukraine

Business news from Ukraine

KRONOSPAN PLANS TO LAUNCH PRODUCTION OF PARTICLE BOARDS IN NOV

Kronospan company plans to launch the production of particle boards (chipboard) at a new site in Horodok of Rivne region in November this year, Executive Director of Kronospan Rivne Pavlo Piltiay has told Interfax-Ukraine.As reported, the plant was previously expected to start operating in late October.The expert recalled that Kronospan is investing EUR 200 million in the new plant, and the same amount is planned to be invested in the implementation of the second stage of the project – the production of oriented strand board (OSB).As reported, the estimated launch date for this production is the third quarter of next year.Kronospan began investing in a new site back in 2018, but only in mid-2020 received permission to start architectural and construction work, and it took another six months to obtain various permits.The new enterprise is introducing an ecological system/filters to protect the environment from dust and other chemical contamination. It also installed a special module for monitoring the environment around the factory (formaldehyde, steam, other pollutants). Chipboard production in Horodok is designed to produce 900,000 cubic meters of products per year, it is planned to create 200 direct jobs and about 2,000 in related industries, the average salary is UAH 18,000 per month. Some 40% of the production is planned to be exported.

,