Kirishi Glass Factory (St. Petersburg, Russia) plans to invest USD 20 million in the construction of a second bottle department in order to double output. The new facility will have three lines with a…
Kirishi Glass Factory (St. Petersburg, Russia) plans to invest USD 20 million in the construction of a second bottle department in order to double output. The new facility will have three lines with a total output of 220 million bottles a year. Building work is to start in March 2004, and commissioning is scheduled for 2005. The factory is now negotiating credits with the Czech company Interbanka A.S., which provided a tied loan for the construction of the first phase of the factory 2001. The new loan is to be secured by the St. Petersburg Regional Government, and it may cover over 85% of the project budget.