Kloesters to invest in new Bulgarian cement plant

Kloesters to invest in new Bulgarian cement plant
Published: 21 September 2004

KREMIKOVTSI AD and Germany’s Kloesters signed a contract for setting up of a 25%/75% joint venture cement production (grinding?) plant on September 15, representatives of the Bulgarian metallurgic giant said. Kloesters will invest EUR 30 million in the project which is aimed at meeting all the modern environmental standards. The annual output of the unit is projected to reach 400,000t. The main material for cement production will be the metallurgic slag from Kremikovtsi. Kremikovtsi will enter the project with 4 hectares of land lot, communication and technology infrastructure. The construction of the new plant will be completed in an 18-month period. Currently Kremikovtsi is in the process of negotiations with the Indian Ispat group over the prospective sale of the majority stake in Kremikovtsi.