Metafrax Group, Russia’s biggest methanol producer according to the company itself, expects that the Russian construction sector is going to contract by nearly 50% in 2021 due to the corona pandemic. It is going to take at least two years for the sector to recover. Those are the fears of Levon Garslyan, Deputy General Director for strategy and investment at Metadynea, a subsidiary of Metafrax Group. As a result, production in the timber industry could decrease by 30%. In the best case, the construction sector could shrink by 16% next year, while the timber industry is slowly going to recover.
Furthermore, the Russian construction sector is not going to see a recovery before 2022 even under the most favorable circumstances.
