Long-term pellet contract for RusForest

RusForest, a Swedish forestry company with operations in Russia, has signed a long-term contract for pellet sales from the company's LDK-3 wood pellet mill in Arkhangelsk.

RusForest has entered into a sales contract for 60,000 tonnes of pellets, a majority of the company's annual pellet production.

The pellets, which will be sold through a trading house focused on bioenergy, are expected to be used as fuel in various European coal-fired power plants. The sales agreement will be complemented by spot market sales of the company's pellets.

Matti Lehtipuu, RusForest group CEO, says: 'We are very pleased to partner with a leading player in the European wood pellet business. This sales contract gives us access to the key consumers of industrial pellets in Europe and helps us build a track record as a reliable pellet supplier to the European market.'