Tikkurila, a Finnish manufacturer of paints and lacquers, has leased a land plot in the Lomonosov district of the Leningrad region, Russia, to implement its investment project there, according to the press office of the regional government.
The managing company of Greenstate industrial park has allotted to the investor a land plot of 6.5 hectares for exploration and design work. In the future, Tikkurila is going to purchase this plot of land and build there a plant as well as a research and development center, warehouses for raw materials and finished products.
Investments in the project are estimated at 2.4 billion rubles ($42 million). 300 jobs are expected to be created at the enterprise. The construction of the facility will be launched in 2019, and as soon as 2020, the company plans to start producing 30 million tons of paints per year. In the future, production capacity will be increased.