Russia’ Novosibirsk-based RATM Industrial Commercial Group plans to invest up to Euro 120m in the construction of a cement plant in the Novosibirsk Region, the company’ President Eduard Taran said at a press conference Wednesday. “This is a preliminary value of the project,” Taran said adding that the company plans to borrow funds for the project. As cement production is very profitable banks are already lining up to finance the plant’ construction, he said.
RATM plans to begin construction in 2006 and to launch the plant in 2008. The plant is projected to have an annual output capacity of between 1 million to 1.8Mt, Taran said. The plant is projected to reach the planned output capacity by the end of 2008, General Director of RATM Georgy Glebov said at the press conference. RATM Industrial Commercial Group, which is a multi-industry holding, was established in 1992. The company comprises cement producers including Iskitimcement, Angarskcement, heavy electric machinery maker Elsib, and tractor producer Altai Tractor.