19 Dec '07
Corund Ltd from Dzerzhinsk, Nizhny Novgorod region, is coming round to the final stage of construction of a plant for mass production of paints and enamels. At factory floor level they are currently submitting the equipment to some fine-tuning.
Investment in the new plant will come to around $17.1m. Sberbank will provide a part of the total funds for Corundís project on loan, whilst the equipment for the new production was supplied by the Spanish firm Oliver y Batlle.
Once production is underway Corund will be able to offer the entire range of paints that are currently being sold in Russia, including industrial paints for one of their largest customers, Russian Railways. Two types of enamel they are providing have already got certification from the National Railway Research Institute.