Mordovcement (Komsomolskiy, the republic of Mordovia) has started constructing a new RUR10bln cement plant. On January 19, 2007 head of the Mordovia republic Nikolay Merkushkin laid the plant’s foundation stone.
The company will finance the project from own funds with the support of the government of the Mordovia republic and plans to attract investments and take out loans. The plant will be commissioned in 2-2.5 years and produce 2-2.5Mta of cement. Mordovtsement produces around 3Mt of cement per year now, with the new plant total cement capacities will stand at 6.1-6.2Mta.