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Ilim Group to Spend $400 Million Through 2018 to Boost Capacity

March 20 (Bloomberg) -- OAO Ilim Group, Russia’s biggest timber and pulp producer, plans to invest about $400 million on road building and machinery through 2018 to increase capacity.

The investment also seeks to cut main production costs 20 percent from $33.5 a cubic meter (35 cubic feet) of raw forest material, said Igor Sapunkov, director for forest strategy.

Ilim utilizes about 88 percent of its 10.5 million cubic meters of annual forest resources, he told a Moscow timber conference.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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