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Gov't estimates required investment in timber industry

      RBC, 16.04.2008, Moscow 12:59:30.Russia's timber industry needs RUB 1.195 trillion (approx. USD 50.96bn) in investment, Deputy Minister of Industry and Energy Denis Manturov said today. Some RUB 635bn (approx. USD 27.08bn) of the total will go into the pulp and paper industry, over RUB 270bn (approx. USD 11.51bn) into the production of timber sheet materials, RUB 64bn (approx. USD 2.73bn) into the production of sawn timber, and RUB 170bn (approx. USD 7.23bn) into felling. The ministry's development strategy for the industry, which is underway, will cater to infrastructure needs as well. As a result, tax payments from the industry will increase 5.5 times by 2020. The strategy will be submitted to the government in August 2008.

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