Russian Cement Industry needs US$5bn in Investment by 2010

Russian cement industry investment requirements of up to US$5bn for the rest of this decade were revealed this week by Michael Skhorohod, President of Eurocement Group, during the XIII International Conference “The Cement Industry and the Market” held June 7-8 at Moscow’s President Hotel. This need is a result of the challenge presented by the President of the Russian Federation to provide for the construction of 70-80Mm2 of habitation by 2010. Thus, domestic manufacturers will need to produce 85-90Mt of cement a year, for housing and industrial construction, development of the infrastructure, and the manufacture of other building materials. (For
background: 45.6 million tons of cement was produced in 2004, and the forecast for 2005 is 50.5 – 50.7 Mt).