21 Feb '11
Three Chinese companies intend to invest $20.5m in modernization of two brick plants in Chelyabinsk region, regional officials report.
The Russian partner in the project is the United Brick Plants holding, the Chinese investors are Dragon & Strong Group, SINOHYDRO LEASING LTD and China Export & Credit Insurance Corporation, the officials said.
Under the project, the funds are to be invested into production facilities modernization at two Chelyabinsk plants Ц Brick Plant Ц 3 and Chelyabinsk Plant of Efficient Building Brick.
As a result of investment, annual production capacity at the Brick Plant Ц 3 is to increase to 30 million ceramic bricks, and Chelyabinsk Plant of Efficient Building Brick is to annually make 50 million bricks.
Timeframes for the project have yet to be disclosed.