German Pellets to invest 9B rubles to build a wood pellet plants in Nizhny Novgorod, Russia; project will take 14 months to complete, 78% of required funds will be borrowed, says regional official

NIZHNY NOVGOROD, Russia , June 5, 2014 () – LLC German Pellets Nizhny Novgorod, a subsidiary of German Pellets, will invest 9 billion rubles in the construction of a wood pellets plant in Nizhny Novgorod.

The project will take 14 months to complete and 78% of the funds required will be borrowed, the region's Investment Policy Minister Yuri Groshev said at an investment council meeting Wednesday.

The company will get a 1 million square meter site in Bor district.

German Pellets is one of the leading producers and distributors of wood pellets. The company was established in 2005 and has 15 plants, two of which are located in the United States.

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