OREANDA-NEWS. On 16 April 2008 was announced, that holding “BI Group”, Open Society “The holding company the Siberian cement” and BTA Bank will sign the cooperation agreement.

About it will go the speech at press conference which will take place in Astana. The Russian company “The Siberian cement” becomes the partner of “BI Group” in the project of cement works under construction near to Astana “BI Cement”. Its construction has begun in May of last year. On a plan, the object should become the largest in Kazakhstan. Its first line will be already started in the current year, and on full capacity the factory will start to work in 2,5-3 years. According to the concluded agreement there will be considerably reduces the terms of construction of a factory and increased its productive capacity.

The total sum of financing of the project will increase about 120 million US dollars up to 320 million US dollars. It will allow to increase volume of manufacture from planned 550 000 tons a year, up to 1 million 750 thousand tons a year. The marketing policy will be defined by the Kazakhstan co-owner.