Displaying items by tag: Kaluga

Russia: Akkermann Cement, a subsidiary of USM Holding, has acquired Kaluzhsky Tsementny Zavod (Kaluga Cement Plant) for US$111m from state development corporation VEB.RF. VEB.RF provided a loan for construction of the plant in 2011 but the borrower was acknowledged bankrupt in 2018, according to Prime News. The plant is not yet fully built, but it is anticipated that the 3.5Mt/yr facility will create 400 jobs when commissioned.

“The asset is good,” said Akkermann Cement’s managing director Alexander Ivanov. “The dry process is one of the most efficient and budget-friendly technologies for production of cement, but the conclusion of the plant’s construction will need additional investment.”

Russia: Kaluga Cement Plant has put its unfinished cement plant in Kaluga Oblast up for auction. AK & M News has reported that the auctioneer has valued the site at US$374,000, with a reserve of just US$243,000. The reason for the sale is the bankruptcy of Kaluga Cement Plant.

Russia: The State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) has agreed with HSBC Bank to extend additional credit facilities worth up to Euro25.2m for the construction of a cement plant in the Kaluga region by the Kaluga Cement Plant company. Credit facilities are to be extended for a total period of up to eight and a half years against insurance coverage of Denmark's Export Insurance Agency, EksportKreditFonden. This project will help to develop production facilities and create new jobs.

Russia: The Danish cement plant manufacturer FLSmidth has won a contract worth approximately Euro27m from the Russian company Kaluga Cement Plant LLC to supply additional equipment for its cement plant currently under construction in the Kaluga province, 300km southwest of Moscow. The contract is an extension of the contract that FLSmidth won in 2011 from Kaluga for the supply of a complete cement plant.

"The award of this order to FLSmidth underlines the strength of our good relations with the customer and the value of our long-standing local presence in Russia," said Group CEO Jørgen Huno Rasmussen. "The order is also a good example of the general signs of a positive development in the cement market."

Russia: Danish cement plant supplier FLSmidth has won two recent orders to build cement plants in Russia. FLSmidth said it would build a complete cement plant for Kaluga Cement Plant LLC in the Kaluga province, 300km southwest of Moscow in a deal worth Euro150m. Last week, the company also announced a preliminary deal for a separate 8500t/day cement plant in Russia, which is expected to be worth over Euro100m. At nearly 3Mt/yr this kiln will be the largest in Europe.

FLSmidth's chief executive announced that Russia is now seen as the most promising market for such projects. "This confirms what we have long said. There is very big potential in Russia," said chief executive Jorgen Huno Rasmussen. "It is the most promising market we see at the moment."

Rasmussen also said that the big potential in Russia for cement plant sales stemmed from high economic growth, based largely on high energy prices and from the age of existing cement production capacity. "Around 85% of the existing cement capacity is outdated and needs to be replaced," Rasmussen said. The company is in contact with several other potential customers in Russia.