16/02/2018

Tikkurila to invest RUB 2.4 billion in a decorative and industrial paints plant in Leningrad Oblast

Tikkurila will invest RUB 2.4 billion in a project to create a plant producing decorative and industrial ptains in Leningrad Oblast. The project will be implemented under a partnership agreement signed during the Russian Investment Forum in Sochi. 

The Finnish company Tikkurila will build a state-of-the-art plant producing decorative and industrial paints in Leningrad Oblast, and establish an innovation center. A 6.5 hectare plot of land has been reserved for the construction of the plant. The plot is located in the Greenstate industrial park in the Lomonosovsky District of Leningrad Oblast. 

The partnership agreement was signed by Leningrad Oblast Governor Alexander Drozdenko and LLC Tikkurila CEO Ilari Juhani Hyyrynen. 

According to the data provided by the Chamber of Industry and Commerce, work on the design of the plant will start in the nearest future, and construction is slated to begin in 2018. The plant is expected to open in 2020. Besides the production facility, the site will house storage facilities for raw materials and finished product. 

The first stage of the plant will be able to produce up to 30 million liters of decorative and industrial paints, with a possibility of capacity upgrade in the future. The launch of the plant will create 300 new jobs.

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