Veda-Pak halts Novgorod plant construction

Russia“s Veda-Pak has suspended construction of the USD 190 million, RoSteklo sheet glass factory in the Novgorod Region, said regional Governor Mikhail Prusak on 16 February 2005.
Prusak said const…

Russia“s Veda-Pak has suspended construction of the USD 190 million, RoSteklo sheet glass factory in the Novgorod Region, said regional Governor Mikhail Prusak on 16 February 2005. Prusak said construction was halted because of the death of Veda“s Chairman Kirill Rogozin, adding that he did not know when construction would be resumed. Rogozin was responsible for construction-related negotiations with the government, Prusak said. Building work started in November 2004. The first production line at the factory was expected to be launched in July – September 2006, and the second line in 2007. Sheet glass sales from the factory were forecast at 16.5 million square meters a year. Veda-Pak is managed by OOO Veda Sistema (Veda System Ltd.), which also manages diversified assets of the Veda-Obyedinyonnyye Kompanii (Veda-United Companies) holding in glass, soft drinks, and liquor production, as well as two distribution companies in Moscow and St. Petersburg and investments in property and construction.