facebook
twitter
rss
account
search
search
 

Russia will spend $437.4 million closing down Baikal paper mill

June 19, 2013 at 10:02 AM   |   Comments

LISTVYANKA VILLAGE, Russia, June 19 (UPI) -- A Russian paper mill blamed by environmentalists for damaging the world's deepest freshwater lake will finally be shut down, Russia's prime minister said.

Dmitry Medvedev told members of the ruling United Russia party in Siberia the government will spend $437.4 million to close the Baikal Pulp and Paper Mill, the official Russian news agency RIA Novosti reported Wednesday.

Opened in 1966, the Baikal mill has long been a target of environmentalists who charge it is doing untold damage to Lake Baikal, a UNESCO World Heritage Site that holds 20 percent of the planet's unfrozen fresh surface water.

The mill is the main employer for the nearby town of Biakalsk.

Its largest creditor, the state-run development bank Vnesheconombank, is trying to sort out major problems related to large debts, waste disposal and re-employment of a workforce of 2,000.

Engineers said halting production would take at least two years while liquidation of the mill's accumulated waste would take from four to six years.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Texas cheer coach Ashley Zehnder faces sex charge for sleeping with a student and sending nude sexts Texas cheer coach Ashley Zehnder faces sex charge for sleeping with a student and sending nude sexts
2
Missing college student Connor Trapatsos spotted on surveillance video Missing college student Connor Trapatsos spotted on surveillance video
3
Boy hunter, 11, shoots rare albino deer with crossbow Boy hunter, 11, shoots rare albino deer with crossbow
4
Freedom variant LCS takes to water Freedom variant LCS takes to water
5
Several dead babies found in Winnipeg storage unit Several dead babies found in Winnipeg storage unit
Trending News
Around the Web
x
Feedback