Russia: Matanat-A, the Azerbaijani building materials producer, has re-registered land in Uspensk district of Krasnodar region of the Russian Federation intended for a industrial complex including a gypsum wallboard plant. Company president Elkhan Bashirov said that they Matanat-A is continuing negotiations with the district administration about the start of construction.
"The point is that the purchased land is registered as agricultural land. In this respect we submitted the documents for re-registration of land for industrial work," said Bashirov.
The agreement to build the complex has originally signed on 16 September 2011 at the Jubilee X Investment Forum in Sochi. The plans consist of five plants, including a gypsum wallboard plant, built on a 37 hectares plot. Matanat-A has also purchased a 78 hectare site to mine gypsum at Otradnensky in Krasnodar region. The plant build will be funded by a Euro30m investment, of which 30% comes from Matanat-A and the remaining 70% from a loan.
