Investors from United Arab Emirates offer to build cement plant in Dagestan

Makhachkala, April 15, 2016. During a meeting with the head of the republican Agency for Entrepreneurship and Investment Bashir Magomedov held yesterday, April 14, the investors from the United Arab Emirates proposed to build a cement plant on the territory of the Republic, the press-service of the agency informs.

The president of the CTX Energy DMCC Luis Martinez headed the delegation of investors from the United Arab Emirates. As part of the meeting, Martinez presented a draft project of the cement plant. According to Martinez, the project will provide the Republic of Dagestan with about half of the total volume of the cement needs. Thus, the plant production capacity will approx. make 1.5 million tons per year. The project envisages the creation of more than 200 jobs.

Currently, Martinez is studying the logistics of the republic in order to choose the exact place for the construction of the plant.

Bashir Magomedov expressed willingness to cooperate and to provide full support from part of the republican leadership. Magomedov noted that the activity of the plant will allow, to some extent, to solve the problem of shortage of construction materials in Dagestan, to create jobs and to increase tax revenues to the republican budget.