During the ceremony of signing of a MOU on cooperation with the Sverdlovsk region’s government up until 2015, Itera Ltd announced its plans to build up a cement plant in the region jointly with Basel Cement Ltd. The construction startup is scheduled for the end of 2008.
The plant’s capacity is projected at 1.2Mta. Market participants suggest that Itera’s interest to the cement business is due to the project of the complex development of Yekaterinburg.
The development division of the international group of companies ’ITERA’ is set to invest about RUR26bn into the construction of 820,000m2 of housing in one of the city’s district.