Sisecam and Saint-Gobain form JV for gas production in Russia, investment at 184 mln euro
MOSCOW. Oct 12 (Interfax) - Trakya Cam, which is a subsidiary of Turkey's Sisecam Group, and France's Saint-Gobain have signed an agreement for creating a joint venture for producing glass in Russia.
Sisecam and Saint-Gobian's respective stake's in the new JV will come to 70% and 30%, a source at the French company said on Tuesday.
The company will build a plant that will produce float-glass for the constructive and automotive sectors, as well as mirrors, in the Alabuga Special Economic Zone (SEZ) in Tartarstan. Investment in the project will come to 184 million euro.
Trakya Cam is part of the Sisecam Holding, which is the leading producer of glass goods in Turkey. The company has several projects in Russia, including Tatarstan. France's Saint-Gobain, Europe's largest producer of building materials, has nine enterprises in Russia.