Paroc has signed a provisional land lease agreement in Chudovo, Russia. Soil investigation and drilling tests indicate that foundation piling will be required. Planners and geological engineers have been working on the project since mid-January. The next steps include, for example, land preparations, planning applications, providing accommodation for project personnel, recruitment and finalising the project plan.

Engineering on the Chudovo L1 line is set to get under way in April and building work should be completed by the end of 2009. Commercial production is scheduled to begin in September 2010.

4.2.2008