China National Building Materials Group Corporation (CNBM), the largest state corporation engaged in the construction activities, made a decision to become a shareholder of Eurocement Group, an international industrial Holding company and Russia's leading producer of construction materials.
CNBM intends to take stock in Eurocement Group with the purpose to implement the investment projects in accordance with an agreement on cooperation in the construction materials production, which has been signed recently in Beijing, the company’s press office told Construction.RU.
The volume of investment allocated by the Chinese counterparts will total $5 bln roubles. These funds will be allotted to Eurocement plants’ modernization and construction of the new cement production lines by dry method.
Moreover, on a basis of the existing Eurocement infrastructure, the production and industrial clusters producing construction materials are planned to be established in 7 federal districts of Russia.