Basel Cement and ITERA sign cooperation agreement

摘要

Basic Element and ITERA-Invest-Stroy have signed a cooperation agreement to build cement plants in countries of the CIS and in the Urals. The agreement will enable Basel Cement to start the development of aggregates assets and cement production in new regions, and will enable ITERA to enter the cement market. In October 2007, Basel Cement, which is part of Basic Element's construction and materials division, and Austrian construction company Strabag, announced the creation of a joint venture (JV) to produce cement and aggregates assets in Russia and Eastern Europe. Strabag contributed to the JV the cement plant it was building in Hungary, while Basic Element contributed its cement plants in Russia and Kazakhstan, as well as additional plants which are still under construction.