Russian cement holding Eurocement Group plans to invest US$700m in 2009-13 to build two production lines at its cement plant in the city of Lipetsk, Filaret Galchev, the chairman of the group’s board of directors, said at a news conference on Wednesday.
Eurocement Group plans to start the construction sometime in 2009, Galchev said, adding that the project was expected to take up to three and a half years.
The plant currently has three production lines and two of them are planned to be closed once the first of the two new lines is completed.
After the completion of the entire project, the plant’s production capacity will increase to between 3.5Mta and 4Mta of cement from the current 1.6Mta. Eurocement Group controls 16 cement plants in Russia, Ukraine, and Uzbekistan.