Russian holding Sibirsky Tsement (Siberian Cement) plans to invest US$150m in cement production at its plant located in Krasnoyarsk this year, the company’s President Andrei Muravyov said.
The company plans to invest about 30%-40% of the total from its own funds, and borrow the remainder from foreign banks, he said.
The plant’s annual production capacity is expected to increase to 2Mta cement within the next three to five years, he said. This year, the plant is expected to produce 760,000t of cement, he said.
In 2005, Sibirsky Tsement’s total output amounted to 3.7Mt of cement. The holding controls five cement plants in the Irkutsk and Kemerovo regions, in the constituent republic of Buryatia and two in Krasnoyarsk.