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Mondi to invest Euro 100 million in power plant rebuild at its Syktyvkar mill in Russia

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Mondi to invest Euro 100 million in power plant rebuild at its Syktyvkar mill in Russia

May 29, 2017 - 07:43

SYKTYVKAR, Russia, May 25, 2017 (Press Release) -Mondi Syktyvkar has officially launched a large-scale power plant rebuild project. Over EUR 100 million will be allocated to fund this upgrade as part of Mondi’s approved capital investment programme for 2017 to 2019. The main objective of the project is to safeguard sustainable safe heat and energy generation for the mill and the region. The launch event, held on 25 May, was attended by representatives of the local authorities, various partners of the company and Mondi Syktyvkar managers.

“Our power plant upgrade is the biggest investment project at Mondi Syktyvkar since the STEP project completed in 2010. The power plant is a central component of the company’s infrastructure. We provide around 20 percent of the regional demand in electricity energy. In addition, we are the only source of heating and hot water for Syktyvkar’s Ezhva district, which is populated by around 60,000 people. Our power plant is unique for both Russia and Mondi. It has been in operation for over 50 years and an extensive upgrade programme is required,” says Klaus Peller, Managing Director of Mondi Syktyvkar.

During the project a new bark boiler, steam turbine and electricity distribution plant will be built. Mondi has already obtained approval from the state expert assessment department, civil construction permission from the supervisory authorities, and has awarded contracts to main equipment suppliers. The upgraded power plant is planned to come into operation in 2019.

Mondi Syktyvkar is a part of Mondi’s Uncoated Fine Paper business unit. The mill is one of the leaders in the pulp and paper industry, and the biggest paper producer in Russia. The company’s core business is the production of office and offset paper. It also produces newsprint, white-top kraftliner and bleached softwood market pulp KOMICELL. The most prominent brand is office paper “Snegurochka”.

We are Mondi: IN TOUCH EVERY DAY

Mondi is an international packaging and paper group, employing around 25,000 people across more than 30 countries. Our key operations are located in central Europe, Russia, North America and South Africa. In 2016, Mondi had revenues of €6.7 billion and a return on capital employed of 20.3%.

We are fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and compound plastics, to developing effective and innovative industrial and consumer packaging solutions. With over 100 products customised into more than 100,000 solutions, we offer more than you may expect. Leading brands around the world rely on our innovative technologies and products across a variety of industries such as agriculture; automotive; building and construction; chemicals and dangerous goods; food and beverages; graphic and photographic; home and personal care; medical and pharmaceutical; office and professional printing; packaging and paper converting; pet care; retail and e-commerce; and shipping and transport.

We believe sustainable development makes good business sense. It's integral to our responsible and profitable growth, and embedded in everything we do, every day. We continue to look for ways to do more with less, promote the responsible management of ecosystems, develop and inspire our people, and enhance the value that our sustainable product solutions create.

Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker code MND and a premium listing on the London Stock Exchange for Mondi plc, under the ticker code MNDI. We have been included in the FTSE4Good Index Series since 2008 and the JSE's Socially Responsible Investment (SRI) Index since 2007.