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28 March 2011

Gomel Oblast may look for new investor for cement plant project

GOMEL, 28 March (BelTA) - Gomel Oblast is considering attracting a new investor for the investment project to develop Podkamenie and Shirokoye chalk deposits (Vetka District) and build a cement plant with the engineering, transport and social infrastructure, the chairman of the Gomel Oblast Executive Committee Vladimir Dvornik told a press conference on 28 March. In May 2010, the Gomel Oblast Executive Committee and the Iranian company Azarab Ind. Co signed an investment agreement for this project. It was assumed that the company would begin construction last year to complete it in 36 months. Design capacity is 1 million tonnes of cement, the volume of capital investments was planned at no less than $200 million. However, the investor has not started on the project yet. “We have not lost hope to implement the contract with the Iranian company, but time is running out,” Vladimir Dvornik said. “So now we are considering the issue of attracting other investors to develop the deposits. It is also possible that the project will be implemented with the use of foreign credit lines,” the official said. Currently Gomel Oblast is actively working to promote the upgrade of the local plants of large-panel construction. Modern equipment has already been installed at three plants. Upgrade projects at three more are underway. The total capacity of these lines will be 500,000 square meters of housing per year. To help the new manufactures reach maximum capacity, it is necessary to provide them with raw materials. Construction of a cement plant in Vetka District is just a part of this strategic plan, said Vladimir Dvornik.

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