PROJECT

Projects

Summary of Proposed Investment

Project Number

28503

Company Name

KRONOSPAN SRB DOO LAPOVO (VAROSICA)

Date SPI Disclosed

Feb 25, 2010

Country

Serbia

Industry

Agribusiness and Forestry

Projected Board Date

Mar 29, 2010

Status

Completed

Sector

Wood Panels and Engineered Wood Products

Department

Regional Industry MAS LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : Jun 21, 2010
Signed : Jun 25, 2010
Invested : Aug 31, 2010

Project Description

Kronospan Serbia has finished construction of a particleboard plant in Lapovo to better serve the markets of Serbia and the Balkan countries. Planned plant capacity is 380,000 m3 of particleboard and 11 million m2 of melamine facing per annum. The project was financed by Kronospan and HVB, Germany. Production was to commence in Spring 2009, but the project was delayed due to difficulties with land acquisition, regulatory permissions and a decision to increase capacity to better realize economies of scale. It is expected that the full scale production will start in 2010.

Sponsor / Cost / Location

Development Impact