Urals | Real estate

UGMK mines buys into Klaas-Stroy construction

29 May '08
Ural mining company UGMK is continuing to make major investments in the Ekaterinburg construction boom.

The company has already invested over $21m in the construction of the Demidov business center, part of Ekaterinburg's City Center complex and today announced that it will purchase 50% of the stock of one of its major shareholders, Klaas-Stroy construction.

At the end of April of this year UGMK puchased Klaas-Stroy's receivables under loan contracts for $23m.
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Tags: Demidov (2) / UGMK (17) / Klaas Stroy (0) /

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