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03.10.2007. Strabag has reached an agreement to establish a 50:50 joint venture with BaselCement, a company that forms part of the construction and materials division of the Russian investment holding Basic Element.
The joint venture will focus on the acquisition, construction and operation of cement plants. Strabag and Basic Element each have agreed to contribute their worldwide cement assets to the joint venture. Accordingly, Strabag will contribute the cement facility it is in the process of constructing in Hungary, and Basic Element will contribute various cement factories in Russia and Kazakhstan. Any difference in the value of the two parties’ contributions will be settled in cash.
In April 2007, Rasperia, a company which, like Basic Element, is controlled by Oleg Deripaska, a Russian entrepreneur, purchased a 30% stake of Strabag. Since then Basic Element and Strabag have teamed up for participation in several tenders, including the construction of Orlovsky tunnel and Western-Highspeed Diameter both in St Petersburg, the highway between Moskau and St.Petersburg, the highway between Moskau and Krasnodar and a PPP road construction in Montenegro.
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BaselCement Ltd. was established in 2006 to manage cement plants and enterprises specializing in the production of construction materials. Currently Basel Cement constructs two cement plants in the Ryazan and Krasnodar regions. In September 2007 Basel Cement put into operation its Achinski cement plant with a production capacity of 700.000 thousand tons per year. Last year the company launched cement and lime production at its Sastobe plant in Kazakhstan, where it produces 300,000 tons a year. In addition to cement plants, Basel Cement specializes in the production of basalt and granite aggregates, sand and other types of construction materials. Basel’s output of cement and aggregates amounts to 200 000 tons a month.
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