Russia’s Nizhny Novgorod Cement Group is expected to build a US$300m cement plant in the Nizhny Novgorod Region, a spokesperson for the regional government told PRIME-TASS Monday.
The company is expected to build the plant in the region’s Pervomaisky district. The launch of the plant is scheduled for the first half of 2014.
The plant’s annual production capacity is projected at 2Mt of cement.
At present, the company is searching for a strategic investor to implement the project under the regional government’s guarantees.
Nizhny Novgorod Cement Group is 50% owned by the regional government.