RFP Group, RDIF, JBIC investing in wood pellet production
MOSCOW. May 28 (Interfax) - The Russian Direct Investment Fund (RDIF) and JBICIG Partners, a subsidiary of the Japan Bank for International Cooperation (JBIC), as part of the Russia-Japan Investment Fund (RJIF), together with RFP Group and Japan's Prospect Co. have agreed to collaborate and consider potential investments in Russia's biofuel industry, the RDIF said in a press release.
A corresponding agreement was announced on Saturday on the sidelines of Prime Minister Shinzo Abe's visit to Russia.
Under the agreement, the parties plan to cooperate on a project to process timber industry waste into wood pellets for energy production.
The project involves the construction of a pellet production plant with total capacity up to 135,000 tonnes per year. Construction of the first facility is expected to start in the summer of 2018, with pellet production to start in 2019.
A significant volume of the product will be exported to Japan