Mitline, China's AFECC to invest EUR200 mln in Urals cement works
YEKATERINBURG. Oct 30 (Interfax) - China's Anhui Foreign Economic Construction Group (AFECC) and Moscow-based LLC Mitline will invest 200 million euro in the construction of a cement works in the Sverdlovsk region, the regional government's press office said.
AFECC will provide 85% of the investment and the Russian company the rest.
The site for the plant, which will create 300 jobs and generate around 500 million rubles for the local budget per year, has not yet been chosen.
LLC Mitline chief executive Pavel Pudikov and Anhui Foreign Economic Construction Group president Jiang Qingde signed a contract for the construction of a cement plant with capacity of 3,000 tonnes per day during Russian Prime Minister Dmitry Medvedev's recent visit to China.
Mitline is a wholesale trader, set up in 2005, according to the SPARK-Interfax database.