The project involves investments of RUB 900 mn and the creation of 120 new jobs. A cooperation agreement was signed by Artur Pafrenchikov, Head of Karelia, and Sergey Nechaev, Director General of PC Geoplast. This is reported by the press service of the Government of the Republic of Karelia. 

The Russian company operates in St. Petersburg and plans to expand the production of high-performance polymer pipes used in industry, construction, utilities and agriculture, with a separate division in Karelia.

The project involves investments of RUB 900 mn and the creation of 120 new jobs. The company will move into the leased space as early as 1 July.

'The very decision to set up this production facility here speaks to the demand for our Arctic production site. In the next six months, we will complete the renovation of the road to Nadvoitsy; this will not only improve transport accessibility of the settlement for residents and guests of Karelia but will also help residents of our southernmost Arctic territory to close logistics issues for manufactured products,' said Head of Karelia Artur Parfenchikov.