RUSSIA - Conch builds $500m cement plant in Russia

Byjirong

Updated Tue, 26 Jul 2016 09:58:51 GMT

Conch intends to build a plant in the Ulyanovsk region, the governor’s press office announced on Tuesday.

On the 19th of July, within the framework of the Russia-Chinese Council for Cooperation Between Regions of Volga Federal District and Upper and Middle Channels of Yangtze River, an interim governor of the Ulyanovsk region, Sergey Morozov, and Vice Chairman of the shareholders’ council of Anhui Conch Group Ltd. Company, Jianchao Wang, signed an investment agreement. The third signer of the document was Ulyanovsk Regional Development Corporation.

According to Sergey Morozov, the agreement became a sort of a quality mark of an investment climate of the region. The governor’s press office indicates that the negotiations with the Chinese party have been held over the course of a year.

The project provides for construction of a plant producing cement on the territory of the Terengulsky district of the Ulyanovsk region.

Ulyanovsk Regional Development Corporation is investing $500 m in the construction of the facility with a capacity of 5,000 tons of cement per day. Within the project, four hundred new jobs will be created for the locals.