South Korea to invest $5 mln in ferroconcrete plant in Chechnya
South Korean investors will contribute up to $5 million for the construction of a ferroconcrete plant in Chechnya, the press service of the North Caucasus republic’s president said on Tuesday.
South Korean representatives visited the southern Russian province over the weekend to inspect local construction companies. “Chechnya’s construction ministry hosted talks on a joint investment project to build a ferroconcrete plant envisioning funding from the South Korean side worth approximately $5 million,” the press service said. South Korean company Ko & Chen is already building a brick-producing plant in eastern Chechnya under an investment contract signed with the Chechen government in February. The plant, with annual capacity of 35 million bricks, is expected to produce its first batch of bricks in May 2009.
Chechnya’s economy and infrastructure were devastated in two military campaigns in the 1990s and early 2000s, in the Kremlin’s drive to wrest control over the land from separatists. (rian.ru)
ADVERTISEMENT
Duna House Profit Rise 36% y.o.y.
Parl't Approves Amendments to Legislation on Judiciary
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
