11 Sep '08
Cement manufacturer BaselCement has announced $244.1m plans to build a cement factory in Tuapse, Krasnodar.
The firm, which is part of billionaire Oleg Deripaska's Basic Element Group, said construction was scheduled to kick off no later than summer 2009.
The firm's website today said the first part of the factory would be put into commission in 2010.
Eventual projected capacity at the plant is 1.7 million tons of cement a year.