Russian-Chinese firm launches 2 bln rbl steel plant in Vladimir Reg

VORONEZH, Jul 7 (PRIME) -- United Company RusTechnlogies, a joint Russian–Chinese company, has launched the first stage of a 2.4 billion ruble galvanized steel plant in the city of Murom in the Vladimir Region, the region’s government said in a statement Thursday.

The Chinese investor plans to invest 2.2 billion rubles in the plant in 2016 and 200 million rubles in 2017. The plant’s second stage is expected to be launched by autumn, and its projected capacity stands at 900,000 tonnes of products per year which is to be reached in July–December 2017, the statement read.

(64.6304 rubles – U.S. $1)

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