Russia’s RATM group to invest $20m in Angarskcement

Russia’s RATM group to invest $20m in Angarskcement
Published: 01 June 2006

Russia’s Novosibirsk-based RATM group plans to invest US$20m in the modernisation of the Angarskcement cement plant in the Irkutsk Region, General Director of Angarskcement Nikolai Fomenko told a press conference Wednesday.  RATM Group is a shareholder in Angarskcement.   The investment will be spent on installing new equipment and decreasing the consumption of electric power at the plant, Fomenko said. After the modernization, annual output at Angarskcement is expected to increase to 1 million-1.2Mt of cement from 728,000t in 2005, Fomenko said.  
 
The RATM group has been in a dispute over the ownership of Angarskcement with another shareholder, Sibirsky Cement, or Sibcement, since November 2004. RATM also owns Novosibirsk-based Iskitimcement cement plant, Moscow-based Gidromash plant, Kataisk pump plant, Novosibirsk-based Display and Optical Systems Plant and other companies.