Large cement production to be arranged in Dagestan

Large cement production to be arranged in Dagestan
Published: 01 July 2011

The president of Dagestan, Magomedsalam Magomedov met recently with the Chairman of the Board of Directors of the Inter-regional production resource company GRAS, Sergey Lipatov to sign a cooperation agreement for the construction of a new cement plant in Dagestan.

"Attraction of large-scale investments to the republic – is one of the main directions of our activity, and therefore we welcome all initiatives to open business in Dagestan. The Group of Companies GRAS has a good reputation – this is a serious production and financial structure with a large experience in cooperation with Russia’s regions. Certainly we are interested you started working in Dagestan as soon as possible. For our part we will try to create all the necessary conditions,” the president said opening the meeting.

Magomedsalam Magomedov outlined the great importance of cement industry for Dagestan. In three years, when the plant is put into operation, Dagestan consumers will get cement at the lowest prices and the republican budget will receive additional taxes, he said. The plant will meet all environmental safety standards.

The meeting was also attended by the Prime Minister RD Magomed Abdullaev, the Deputy Prime Minister RD Mukhtar Majidov, the Minister of Construction and Housing Abakar Akayev, the top manager of Dagestan branch of the JSC Eurocement Trade and the Director General of the "Cement-grinding manufacturing plant” in Makhachkala Ali Aliyev.

Sergey Lipatov was accompanied by the Director General of the JSC Region Cement Pavel Bystrov, the Head of the Construction Industry Department of the Vnesheconombank Anton Grigorov and the adviser to the president of the JSC GRAS Sergey Shcherbina.

The meeting participants discussed the estimated cost of the investment project, totalling US$500m, of which part will be loaned by Vnesheconombank.

Subsequently, Deputy Prime Minister RD Mukhtar Medjidov and Sergey Lipatov signed the cooperation agreement on behalf of the government and JSC GRAS, respectively.