Petrozavodsk (pyĕtˌrəzəvôtskˈ) [key], city (1989 pop. 269,500), capital of Karelia, NW European Russia, a port on Lake Onega. It produces lumbering equipment and has shipyards, fish canneries, sawmills, and wood plants. Novgorodians worked the nearby iron deposits in the Middle Ages. Peter I founded a metal factory in 1703 at Petrozavodsk, whose name translates as "Peter's plant." The city has a university that was founded in 1940.