Matanat-A to invest 30 million euro in a project of a facility on production of building materials in Krasnodar region of Russia
Baku, Fineko/abc.az. Matanat-A, Azerbaijan’s first producer of building mixtures on cement, plaster and other bases, is to construct a complex of factories producing building materials for 30 million euro in Uspensky district of Krasnodar region of Russia.
Company’s president Elkhan Bashirov informs that the agreement on the construction of the complex was signed on 16 September 2011 at the Jubilee X Investment Forum in Sochi.
"The agreement, signed with AGASA Ltd and the governor of the Krasnodar region, includes construction of the complex, to compose five plants – the gypsum, perlite, calcite, plaster slab plants and a plant on gypsum for plaster slab factory. The plant will be built on the territory of 37 hectares. To address the issue of raw materials, the Company also bought a land (78 hectares) in Otradnensky district of Krasnodar region for extraction of gypsum rock. We have already received a license for this production," Bashirov said.
He added that for construction of the plant it will be invested, in general, about 30 million euro, of which 30% will be invested by Matanat-A and the remaining 70% due to a loan.
"The Company is currently negotiating with international financial institutions to enter into a loan agreement," Bashirov said.
Company’s president also said that preparation work on complex construction start is underway.
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