Russian real estate developer Inteco plans to build a RUB25bn cement plant in the Tula Region, business daily Vedomosti reported Monday citing the company’s representative Gennady Terebkov.
The company plans to spend both its own and borrowed funds on the plant’s construction, Terebkov also said without providing where the company planned to borrow funds from.
The plant with a projected annual production capacity of 4.6Mt of cement is expected to be built on a 900ha area in the region’s Venevsky district.
Inteco plans to start building the plant in 2011 and finish construction in 2014, the daily said.
Inteco already owns cement producers Atakaicement and Verkhnebakansky cement plant in the Krasnodar Region.