“Contracts in Denmark and Britain are forthcoming,” according to Eurocement’s CEO, Mikhail Skorokhod, as the company expands its global reach.

Since the end of 2016, the Russian cement producer has been exporting increasing volumes to Finland and the Baltic states. “In Finland our share has already reached five per cent  of the market, and in our view, that is a very good result," he said in an interview with PwC. “The devaluation of the ruble creates opportunities to expand exports.”

While the company did not disclose the volumes of its exports, total cement exports from Russia in January-April 2016 reached 0.23Mta, according to cement association Soyuzcement.