The production facilities of Spartak OJSC will be modernised in 2008-2009, Chairman of Bellesbumprom Concern Vladimir Shulga told reporters in Shklov.
In his words, the estimated cost of the upgrading project is $30 million.
The mill is planning to carry out the project without resorting to foreign investors. The necessary amount will come from bank loans, the Innovations Fund and Bellesbumprom Concern.
The upgrading project stipulates the construction of a small heat power plant and the purchase of several paper-making machines.