RUSIA: Large cement production to be arranged in Dagestan

Makhachkala, June 30, 2011. On Wednesday, June 29, the Head of the Republic of Dagestan Magomedsalam Magomedov met with the Chairman of the Board of Directors of the Inter-regional production resource company "GRAS" Sergey Lipatov.

The meeting was also attended by the Prime Minister RD Magomed Abdullaev, the Deputy Prime Minister RD Mukhtar Majidov, the Minister of Construction and Housing Abakar Akayev, the top manager of Dagestan branch of the JSC "Eurocement Trade" and the Director General of the "Cement-grinding manufacturing plant” in Makhachkala Ali Aliyev. Sergey Lipatov was accompanied by the Director General of the JSC "Region Cement" Pavel Bystrov, the Head of the Construction Industry Department of the Vnesheconombank Anton Grigorov and the adviser to the president of the JSC "GRAS" Sergey Shcherbina.

"Attraction of large-scale investments to the republic - is one of the main directions of our activity, and therefore we welcome all initiatives to open business in Dagestan. The Group of Companies "GRAS" has a good reputation - this is a serious production and financial structure with a large experience in cooperation with Russia’s regions. Certainly we are interested you started working in Dagestan as soon as possible. For our part we will try to create all the necessary conditions” - the Head of the Republic said opening the meeting.

Speaking about the upcoming signing of the Cooperation Agreement on construction of cement plant in the republic, Magomedsalam Magomedov outlined the great importance of cement industry for Dagestan. In three years, when the plant is put into operation, Dagestan consumers will get cement at the lowest prices and the republican budget will receive additional taxes. The plant will meet all environmental safety standards.

The meeting participants discussed the estimated cost of the investment project totaling to 500 million dollars. The part of the sum will be loaned by Vnesheconombank.

Then the Government of the Republic of Dagestan in the person of the Deputy Prime Minister RD Mukhtar Medjidov and the JSC Interregional resource company "GRAS" in the person of Sergey Lipatov signed a Cooperation Agreement.