CNBM wins EPC contract in Georgia

Beijing Triumph International Engineering Co Ltd, a branch of CNBM, has won an EPC contract to supply a cement facility for Georgia-based Mega Production. The company, formerly known as TbilCement Group, still has to secure funding for the 1500tpd project.

Georgia’s Basis Bank signed a strategic partnership with China Development Bank (CDB) for loan offerings to Chinese projects in the country, with US$20m offered in 2016 and 2017. Due to the significance of these plans, both Basis Bank and CDB are expected to contribute financing, according to Mao Lu, project spokesman.

However, as it is a large EPC contract, Mega Production is expected to require additional sources of investment.