Russia-based Novorocement has announced it has agreed to buy Inteco's cement plants in Atakaycement and Verkhnebakansky. The value of the deal has been estimated to be worth €137million.
March 6, 2012
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Russia-based 3665 Novoroscement has announced it has agreed to buy 3664 Inteco's cement plants in Atakaycement and Verkhnebakansky. The value of the deal has been estimated to be worth €137million.
Inteco has announced that it is to build a new 4.6million tonne per year capacity cement plant in the Tula region of Russia. Construction on the €660million facility is expected to start in 2011 with full operation planned for 2014.
Novoroscement, one of Russia’s major cement producers, may become the general sponsor of the Kuban football club (South). A decision on whether the Novorossiysk headquartered company obtains its football goal will be made in the near future.