Croatian-Russian JV To Build Up to 300 Mln Euro Cement Factory in Russia - Media

The new factory will be located in the town of Gus-Khrustalny, some 170 km east of the capital Moscow, and will have an annual production capacity of one million tonnes of cement, Poslovni reported. Nexe Grupa will provide the equipment for the cement production, while Karbonat will supply the raw materials.

Nexe officials were not immediately available to comment.

A Karbonat official who declined to be named told Seenews that the two companies will sign a contract for the joint project on November 6 but gave no further details.

Privately-owned Nexe Grupa (www.nexe.hr) comprises around 20 companies operating in Croatia, Bosnia, Serbia and Montenegro. It is active in the production of cement, bricks, tiles, concrete and lime, construction and agriculture.

($=0.7447 euro)