Kazakh holding Caspian Resources expects to invest about RUB200m this year in developing the Kuznetsky cement plant in the Kemerovo Region, a source in the regional administration told ITAR-TASS Thursday.
Caspian Resources, or Kaspiyskiye Resursy, acquired the cement plant earlier this year for an undisclosed amount from a group of individuals from Moscow and the city of Novokuznetsk, where the plant is based.
The bulk of investment is expected to be spent overhauling the plant and launching a fourth production line. After the launch, the plant will be capable of making 700,000tpa of cement.
The Kuznetsky cement plant produced 322,000t of cement last year.
Of the total investment, more than RUB45m are earmarked for environmental projects. Russia’s environmental regulator fined the plant last year for high levels of emissions.
Caspian Resources hopes to increase the plant’s annual output to 1.3Mt.