Asia-Cement to build plant in Nizhny Novgorod region of Russia

RSS6819 Asia Cement is building a cement plant in the Nizhny Novgorod region (Volga). The first stage will be launched in 2013, the second in 2015. The designed capacity is up to two million tonnes of PTs-50 cement per annum. Investments are estimated at over €271.18 million (RUB 11bn), with €122.81million (RUB 5bn) already spent. Asia-Cement, VEB, and the Export-Import Bank of China have provided funds for the project. The enterprise profitability is expected to reach 5-6%, revenue €307.03 million (RUB 12.5bn), profit up to €36.84 million (RUB 1.5bn). Asia-Cement is recruiting staff for the plant. There are over 550 working places. Salary at the plant will be 1.5-2 times higher than the average index in the Volga Federal District. A worker earns €368-€614 (RUB 15,000-25,000), an engineer €614-€859 (RUB 25,000-35,000), and a top manager from €1,228 (RUB 50,000) in the district. The company will also construct housing and social infrastructure for workers on a 32-hectare plot.