US$135.7m loan for Novoroscement, Russia

US$135.7m loan for Novoroscement, Russia
Published: 03 September 2008

Germany’s HypoVereinsbank (Munich) and Moscow’s Unicredit Bank have jointly provided a US$135.7m loan to cement manufacturer Novoroscement, Krasnodar region, sources in Unicredit Bank report. The funds are to be invested in a new dry-process cement production line at the Pervomaysky factory, Novoroscement’s asset just outside the city of Novorossiysk. The factory is to be commissioned in 2010