The Russian government has supported the sale of the Japanese Iida Group Holdings 75% of the RFP Group, a Far Eastern forestry holding, but subject to a number of conditions.
According to RBK Group, the investor, who is the leader in wooden housing construction in the Japanese market, will have to fulfill three conditions. The first is connected with the requirement of the Russian authorities to invest 150 million dollars in the timber processing of the Far East, and this must be done by the end of 2026.
The second requirement is to double timber processing from the current 752 thousand cubic meters to 1.7 million cubic meters, and the third requirement is to increase production of advanced processing products and keep working places by 2026.
The publication reminds that RFP Group is one of the leaders in timber exports from Russia to Asia. The company leases plots on which it is allowed to cut down 3.7 million cubic meters annually. In the Japanese market, Iida Group Holdings holds about 50%.