13 May '08
Timber and furniture firm Sibirsky Les (Russian Forest) has won Kemerovo's highest value and largest area tender, after securing a 49-year lease on a timber site.
The firm, a subsidiary of Yaraslavl-based investment firm Krasnaya Zvezda, bought the area for a record $880,000, the highest timber land tender organized by Kemerovo authorities. And at over 715 hectares it is also the largest area of land sold off by the region's authorities for timber.
Sibirsky Les's application was approved after the firm said it planned to implement an investment project on the land, though details are yet to emerge of concrete plans.
The tender was seen as an attempt by the authorities to kick life into its struggling timber industry, in a region where the coal sector is prevelent.