07 June 2004 07:35
Turkey may invest $40 mln in Dagestan metals plant
MAKHACHKALA. June 7 (Interfax-South) - Two Turkish companies are considering construction of a $40 million metals
plant in Kizilyurt, Dagestan.
The new plant would produce 170,000 to 200,000 tonnes of hardware
from scrap metal. It will take 18 months to build and should start
Chairman of the Dagestani State Council Magomedali Magomedov discussed the plans with the companies last week in
Makhachkala, the State Council's press service reported.
paying for itself after 18 months to two years.
The plant will be fitted with imported equipment, purchased from Germany, France, Turkey and Italy. Products will be
sold on the domestic and foreign markets.
Eximbank Turkey is to provide a loan for 60% of the project's cost. The money will be raised for eight years at
6.5%.
Magomedov said the government was ready to provide any necessary aid to implement the project. [RU ASIA EUROPE EEU
EMRG TR MET STL RESF CORA TRD MAC DE FR IT LOA BNK] me
[Interfax] |
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