The tanning industry Russkaya Kozha has begun building a new plant in Siberia, which should be inaugurated at the end of 2018, according to statements by group leader Vladimir Sirotina reported by Altapress. Sirotina has remarked that no new tannery has been built in Russia for the last 20 years, but indeed, several plants have been closed. The launch of the new tannery was scheduled later this year, but it was postponed due to a large number of permits needed. The new TK RK Altai will produce about 100,000 square meters of finished leather per month and will employ 200 new hires. The estimated cost of the project is approximately € 23.3 million, of which € 16.2 million will be used for plant construction, € 6 million for equipment purchase and € 1.1 million for other costs (Network engineering, communications among others). Nearly half the investment will be funded by the owners, while other funding will come from development funds, mortgages and 1.6 million euros from public funds. The Russkaya Kozha group consists of 6 other companies: Russkaya Kozha, Union for Leather, Saphyan, Home Collection, Tc Ryazan Tannery, BKS Leather and RK Altai.