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News CNBM may buy shares in Russia’s Eurocement Group

CNBM may buy shares in Russia’s Eurocement Group

Written by Global Cement staff 27 June 2016
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Russia: China National Building Materials Group Corporation (CNBM) plans to become a shareholder of Eurocement Group. The companies signed an agreement on cooperation in production of construction materials in China on 25 June 2016 in the presence of Russian President Vladimir Putin and President of the People's Republic of China Xi Jinping.

The companies have agreed to upgrade Eurocement’s cement plants and construct new production lines for dry process production of cement. The agreement also envisages establishing clusters for production of construction materials in seven Russian federal districts at the basis of the local company. Local media reports that CNBM will invest US$5bn in the project.

Last modified on 28 June 2016
Published in Global Cement News
Tagged under
  • Russia
  • CNBM
  • Eurocement
  • Shares
  • agreement
  • China
  • GCW257

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