Bazel Cement begins construction of new plants with Sinoma

摘要

In the next three years Bazel Cement, a new company of Oleg Deripaska, will build four new cement plants. Bazel Cement signed the contract worth 150m US dollars (Euro 112.6m) on construction of the first plant with Chinese Sinoma Engineering International. Deripaska owns Basic Element fund with assets worth 14bn US dollars (metallurgy, energy sector, finance and construction). Bazel Cement was established six months ago to manage the cement business of Basic Element. Sinoma Engineering International specializes in construction of cement plants. Two-thirds of the corporation's shares belong to the government of China and one-third belongs to private individuals. According to Hoover's, annual turnover of the company amounts to 199.3m US dollars (Eurol49.7m).