Russia’s Sibconcord to invest RUB3.5bn

Russia’s Sibconcord to invest RUB3.5bn
Published: 08 June 2006

Russian industrial holding Sibconcord plans to invest RUB3.5bn over the next five years in its Topkinsky Tsement cement plant based in the Kemerovo Region, the region’s Governor Aman Tuleyev said Wednesday.  
Sibconcord signed a cooperation agreement with the region’s government on Wednesday, he said.  
The investment program provides for the launch of new facilities at the plant, which will help to decrease production costs by 30 per cent, he added.  
 The plant currently produces 2Mt of cement per year, accounting for 36% of the total cement output in the Siberian Federal District.  
 In addition, Sibconcord plans to start the construction of a residential complex in the city of Kemerovo this year, Tuleyev said. The company is expected to invest 555 million rubles in the project in 2006.