Vnesheconombank and technopark “Kazbek” have executed a credit agreement for

Vnesheconombank (VEB) and “Innovation building technopark “Kazbek”, CJSC on Friday in Grozny have executed a credit agreement on the sum of 4,411B rubles for financinf of the project on establishment in the Republic a complex of building materials manufactures, - informs Interfax.

The funds, offered for 9,5 years, will be directed on acquisition of equipment, building of manufacturing objects, establishment of required infrastructure, It is expected the equipment will be purchased by the German company “Werhahn”. The total cost of the project comprises 4,956B rubles.

The rest sum of money in amount of 545,2M will be allocated by the “Innovation building technopark “Kazbek”, CJSC (90% of the sum) and the “Corporation for the North Caucasus development” (10%). After ending the project realization, 4 plants-complexes will annually produce 250 thousand cubic meters of materials from aerated concrete, 1,809 million square meters of goods from fiber-reinforced cement, 35 thousand tons of lime, and 60 thousand cubic meters of dry building mixes. The total profit from 4 plants will comprise more than 800 million rubles per year. The complex of plants will be located at 6 land sited with total area of 70 hectare.