Eurocement Group plans in 2006-2007 to invest more than 670 million rubles in two cement-producing plants located in Russia’s Belgorod Region, Eurocement Group said in a press release Thursday. The two plants, Belgorodsky Tsement and Oskoltsement, are to increase their output following the move, Eurocement Group said. Belgorodsky Tsement plans to produce 2.6Mt of cement in 2007, up from 2.2Mt in 2006, while Oskoltsement plans to produce 3.5Mt of cement in 2007, up from 3.2Mt in 2006, Eurocement Group said. In 2005, Eurocement Group invested 86 million rubles in the two plants. This figure included both investment in the maintenance of existing facilities and technical upgrades.

The investment is part of the company’s larger investment program for 2006-2010, worth US$560m. Following the investment the company plans to increase its annual capacities to 42.2Mt of cement by 2010 from 33Mt as of now. Eurocement Group comprises 13 cement plants in Russia and two plants in Ukraine. The company’s cement market share in Russia exceeds 35 per cent, according to the Federal Antitrust Service.