"Ilim Group's investment in the Irkutsk Oblast will exceed RUB 14 billion in 2011", assures Brian McDonald

31.01.2011   •   Big Bratsk

Today Brian McDonald, Deputy CEO of Ilim Group, has held an audio conference for Irkutsk journalists to communicate the Company's 2010 performance results in the region.

Mr. McDonald emphasized that in 2010 the Company achieved record performance in the Irkutsk Oblast both with P&P products output and harvesting volumes. Favorable environment in its key sales markets, mainly in China, facilitated an increase in the output of Ilim Group's Siberian Mills.

The budget of the Irkutsk Oblast also enjoyed a higher tax revenue from Ilim Group which increased 2.5 times against 2009.

As regards Ilim Group's plans for 2011, Mr. McDonald highlighted the Company's intent to focus its efforts to boost harvesting volumes, reduce costs and push up production volumes in the Irkutsk Oblast. Of course, one of the priorities for the Company is the Big Bratsk project involving the construction of a new fiberline in Bratsk. "We are intensively investing in mill development. Our investment in Siberia (Bratsk and Ust-Ilimsk) in 2009 approximated RUB 2.3 billion. In 2010 the amount almost tripled reaching 6.3 billion. We have plans for 2011 to invest in the upgrade of our Siberian mills USD 14.4 billion which is almost seven times more than in 2009," Brian McDonald said.

In 2010 the Company's total allocations for charity and social initiatives in the Irkutsk Oblast exceeded USD 74 million. "We make every effort to improve the living conditions of our employees and therefore we invest in social and charity initiatives. Our investment projects are also aimed to ensure our people live better in the future," Mr. McDonald concluded.