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| Strabag postpones cement plans in Russia Austrian construction company Strabag SE said that it had decided to put on hold the plans to expand the cement activities outside the core markets for the time being. The management board of the company justifies this step with the expected and partly already apparent price decrease for cement in Russia. This traces back to the fact that import tariffs on cement were abolished and that the capacities in cement production have been expanded. "The decision does not impact our aim to double the output volume in Russia each year for the next years. Our strategy in Russia and the outlook for the financial year 2008 are still valid", Hans Peter Haselsteiner, CEO of Strabag SE, stresses. Furthermore, the construction of the first own cement plant in Hungary was build according to plan. The investment volume is € 230 million. The plant shall commence production with an annual capacity of 1 million tons in the third quarter 2010. write your comments about the article :: © 2008 Construction News :: home page |