IKEA invests big in Russia furniture, lumber production

IKEA is looking to invest up to 40 mln Euro in furniture production and build a plant in the Tyumen region city of Ishim that would produce unassembled parts for its furniture, and two billion rubles (55.67 million Euro) in the construction of two lumber plants in the Sverdlovsk region, the regional governor’s information policy department said.
IKEA officials visited Tyumen to discuss the issue. The company also wants to develop timber cutting in the region, it was reported.
More IKEA specialists will visit the city early next year to begin working on the project.
IKEA has been working in Russia since 2000 and has invested almost USD two billion in the Russian economy in that time. The company plans to invest roughly the same amount over the next six years.