The Sudoma sawmill represents a financial outlay of over 1.842bn rubles by general investor the GS Group holding company.
Sergei Donskoi, minister of natural resources and environment of the Russian Federation, was among those who attended the opening event.
The sawmill, which will have an annual production capacity of 61,000m3 of wood products, manufactures thermo-treated and impregnated timber and profiled goods.
Around 40% of manufactured wooden materials will be delivered to the Russian market; the rest of the products will be exported.
Production equipment installed includes EWD, Weinig, Polytechnik and other leading companies.
Sudoma says it is the only mill in Russia applying the special French technology of heating the timber to 230°C. The new plant provides the Pskov region with over 150 jobs.