Gazmetallproekt to invest Ôé¼125MM in new plant

Gazmetallproekt, the management company for Novoroscement, will spend about 125 million euros in 2009 on the construction of a new cement plant in the Krasnodar region of Russia. [$]

{reg}[PAID={"id":"1,2,3,4,5","title":"The content you tried to access is only available to paid subscribers.","link":"1"}] The company said that the funds will be for both the construction work, and the acquisition of most of the equipment, NSP reported.

At the present time, we have completed the first phase of the project -- produced and reviewed all the necessary documentation," the company said.

KHD Humboldt Wedag has been selected as the main equipment supplier for the new plant.

It has been previously reported that factory will have a production capacity of 2,4-2,5 million tons of cement per year and will be built next to the existing Pervomaysky factory. Its production is desitned for the Russian market and especially the southern region of teh country, NSP said.