Tsement to be expanded without foreign investments of RUR5bn

Tsement to be expanded without foreign investments of RUR5bn
Published: 15 November 2007

Tsement OAO (Golukhinskiy Cement Plant, Altai region) will be expanded without participation of Germany’s Heidelberg Cement, that was expected to invest up to RUR5.25bn, provided it gains control over the enterprise. Owners of Tsement, including Stroygaz, won’t sell their stocks. On November 13, 2007 head of the industry department of the regional administration Viktor Meshcheryakov said that according to the business plan of Stroygaz, RUR1.5-1.6bln will be invested in Tsement to attain annual capacity of 0.7-1mln tonnes of cement per annum by 2011, the Kommersant - Sibir newspaper said.