Kronospan Is Awaiting Final Approval

Kronospan is awaiting final approval of a massive euro bank loan to build an MDF and laminate flooring plant in Belarus. Kronospan Belarus wants to build the €102m facility beside an existing chipboard mill on a former tractor site as part of Kronospan's ongoing investment in the country. Much of the output would be for export. The European Bank for Reconstruction and Development has passed for final review by the board a loan of €40m. The plant will have an annual capacity of 224, 000m3. Part of the output will be used for further production of up to 5 million m2 of melamine-faced MDF and 5 million m2 of laminate flooring. The combined site will consume up to 1.6 million m3 of raw material, a substantial part of which will be low grade round wood, as well as wood waste from a 200km radius. Source: ttjonline