Switzerland's Kronoholding company has launched the first 46-million euro wood particle board production line at its Kronostar plant in Russia's Kostroma region, Victor Weitzel, Vice President of Kronoholding's subsidiary Kronotec, reported. The construction of the plant started in March 2002. Currently, the line is working at 50 percent of its design capacity and the full capacity of 150,000 cubic meters of particleboard annually is expected to be reached by the end of next month, he said.
Kronostar has already signed contracts with a number of Russian furniture producers to supply its products. The entire project, which is expected to be completed in five years, will require investments of 350 million euros, the Russia Journal reported.
Chinese President Xi Jinping warned his new US counterpart Joe Biden not to push Europe into an alliance against Beijing