News
- 18.02.11
Magnezit Group concluded an agreement on cooperation with the government of Krasnoyarsk Territory and Closed Joint-Stock Company UniCredit Bank
Magnezit Group concluded a tripartite agreement with the administration of Krasnoyarsk Territory and Closed Joint-Stock Company UniCredit Bank on cooperation and socio-economic development of the region. The agreement in the framework of the
VII-th Krasnoyarsk economic forum was signed by the Chairman of the government of Krasnoyarsk Territory Edkham Akbulatov, Chairman of the Board of Magnezit Group Vladimir Dunayev and Chairman of the Board of the Closed Joint-Stock Company UniCredit Bank Mikhail Alekseyev.«The signed document opens up new perspectives for efficient partnership with the administration of Krasnoyarsk Territory with the purpose of socio-economic development of the region and its territories, in particular implementation of the federal program of development of the areas located along lower part of the river Angara», pointed out Mr. Vladimir Dunayev. — «I would like to express gratitude to the Governor and to the government of Krasnoyarsk Territory and also to important partner of our company — Closed Joint-Stock Company UniCredit Bank, with which we have long standing fruitful cooperation, for the support in implementation of the project.
Magnezit Group carries out an investment project for construction of the biggest on CIS territory modern industrial complex for complete processing of magnesite at the Lower Angara production site. This complex will produce high-quality refractory materials on the basis of innovative for the Russian market clinker technology», — said the Chairman of the Board of Magnezit Group.
According to him, «production volumes will amount to 200 thousand tons of calcined magnesite and up to 150 thousand tons of fused periclase per year. Total investments into this program surpass 7 billion rubles. When the complex attains the planned production capacity, it will be possible to ensure deliveries of the whole volume of novel magnesia refractories required by the enterprises of Russia and other CIS countries.
The investment project is carried out by stages. It permits the company to commission new capacities on the territory of Lower Angara production site (Razdolinsk, Motyginsk district of Krasnoyarsk Territory) gradually keeping pace with the constructed infrastructure. The first stage of the project will have been completed by the year 2012. By this time complete modernization of Razdolinsk Periclase Works will have been done. Two shaft furnaces will be constructed and commissioned at the plant «Siberian Magnesite» and the open-cast mine «Satkinski» will reach planned production volumes of mined magnesite.
In the framework of the second stage of the project new capacities for calcinations (decarbonization) of magnesite will be constructed as well a new melting workshop. Carrying out of the second stage depends upon commissioning of additional energy facilities in the region and upon construction of the necessary infrastructure including the roads. In this connection terms and efficiency of its implementation directly depend upon the terms of construction of facilities in the framework of federal development program of Lower Angara area.
As a result of the project implementation Magnezit Group plans to ensure deliveries of the whole volume of novel magnesia refractories required by the enterprises of Russia and other CIS countries. The company plans to considerably increase its presence on the international market thanks to deliveries of «Russian magnesite» — high-quality periclase clinker and fused powders as well as refractories on their basis. This is a very competitive product and even now the Group observes interest to it on the part of the biggest world consumers.
UniCredit Bank is ready to ensure financing of the project for development of the Lower Angara production site of Magnezit Group with the help of concluding credit agreements with Magnezit Group.
«We have been cooperating with Magnezit Group during many years. It is one of the biggest clients of UniCredit Bank in the segment of mining industry. In the future we hope to continue our cooperation including that in the field of large scale financing of new investment projects of the Group», — said the Chairman of the Board of UniCredit Bank Mikhail Alekseyev, — Signing of the tripartite agreement is a logical continuation of the successful history of cooperation of our companies as well as support on the part of the government of Krasnoyarsk Territory. One should underline importance of Territory leadership activity in development of the banking sector of the region, in its aspiration to cooperate with financial organizations in the most diverse branches of economy. For UniCredit Bank Krasnoyarsk is one of the most important strategic regions for development. It has enormous growth potential. This agreement confirms the seriousness of our intentions".