Veda-PACK plans giant plant in Mordovia

Veda-PACK (Kingisepp, St. Petersburg region) plans to open a glass plant in the central European Russian region of Mordovia in 4Q2005, board member Victor Dolgov said. The company will produce 1 billi…

Veda-PACK (Kingisepp, St. Petersburg region) plans to open a glass plant in the central European Russian region of Mordovia in 4Q2005, board member Victor Dolgov said. The company will produce 1 billion bottles per year and will become the largest glass bottle producer in Eastern Europe. Investments in the plant are USD 60 million, USD 40 million of which is from a Sberbank credit.