EuroCement Group intending to invest in the Ukraine

EuroCement Group intending to invest in the Ukraine
17 June 2005

The Eurocement Group, Russia’s largest cement producer intends to invest US$27.5m in modernization of the Ukranian Baltsem cement plant (Balakliia, Kharkiv region) and the Pushka cement plant (Kramatorsk, Donetsk region).  According to the statement, the EuroCement Group has created the company called EuroCement Group Ukraine to manage its Ukrainian companies, implement investment and environmental programs, and modernise them.  The Eurocement Group’s Ukrainian enterprises have a combined annual capacity of 5 million tons.  

As Ukrainian News earlier reported, the EuroCement Group acquired a controlling stake in the Baltsem plant, which is one of the three major cement producers in Ukraine, in May.   The Eurocement Group also acquired about 90 per cent of the shares in the Pushka cement plant from the Inteko company (Moscow) in April.  

The Eurocement Group now owns (in Russia) the Maltsovsky Portland Cement (Bryansk region), Mikhailovtsement (Ryazan region), Lipetsktsement (Lipetsk region), Savinsky cement (Archangelsk region), Katavsky Cement (Chelyabinsk region), Nevyansky Tsementnik (Sverdlovsk region), Kavkaztsement (Karachaevo-Cherkesiya), and Belgorod Cement (Belgorod), Pushka, and Baltsem cement factories.  The group produced 9.6Mt of cement in 2004.  

Back in Russia, eurcement will invest US$150m in the construction of new cement plant in the Lipetsk region. An agreement on the project has been signed by Oleg Korolev, Governor of Lipetsk region, and Filaret Galchev, Chairman of the Board of Eurocement Group. The annual production capacity of the new plant will amount to 1Mta of cement.

Published under Cement News