EBRD invests in Lafarge Russian operations

EBRD invests in Lafarge Russian operations
Published: 21 December 2009

The European Bank of Reconstruction and Development has invested an additional EUR120m (US$172.7m) in the Russian unit of Lafarge.

EBRD, which in 2006 invested EUR70m into LafargeCement Russia, said in a Monday’s statement the new equity investment aimed to fund a major expansion and plant modernisation programme in the Russian regions.

"Despite having been badly hurt by the crisis, the Russian cement market has strong growth prospects in the long term, fuelled by significant construction needs in the housing, commercial real estate and infrastructure sectors," EBRD said.

Source: Reuters