China Could Invest $500 Mln in 5 New Plants in Altai Territory

BARNAUL. April 17 (Interfax) – Chinese state-owned corporations have offered to build five factories in the Altai Territory, worth a total of $500 million, Altayan President Vyacheslav Bayandin told Interfax.

China has offered to build a cement plant with an annual capacity of 1 million tons; a plant for assembly of tower hoists, hoisters, concrete mixers, automatic cranes and other construction equipment with a capacity of up to 70-100 units per year; a plant for production of sandwich panels with a capacity of up to 2,000 square meters per shift; a plant for production of red facing bricks with a capacity of 30 million bricks per year; and a rubber processing plant.

These plants are expected to be joint ventures with 51% held by Altayan and 49% by the Chinese investors.

Part of the products will be sold in the Altai Territory, the remainder already has its buyer – PIK Group, a Moscow-based developer. “Today this matter has already been settled, they are ready to take our cement and sandwich panels and equipment,” Bayandin said.

Currently, China’s proposals are being studied, including from the point of view of where these plants could be located. Bayandin counts on the support from the Altai Territory administration in this matter.

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