KRASNODAR - Austrian company Atrus Cement Holding AG has frozen the construction of a cement plant in Krasnodar territory indefinitely, a source familiar with the situation told Interfax.
The source said that the project had been temporarily put on hold due to a lack of funds to finance the construction.
Atrus Cement Holding AG was planning to build and launch a cement plant in the Crimean district of Krasnodar territory by 2016, the district administration previously told Interfax. The project will cost over 12.7 billion rubles and will have the capacity to turn out 2.1 million tonnes of cement per year. The company was hoping to start construction in 2012 and complete the project by 2016.
The full production cycle plant was planned to use the dry process for cement production and make Portland cement, which is the most widely used around the world. Cement was planned to be sold in sacks and in bulk.
