http://en.rian.ru/russia/20080415/105127984.html
South Korea to invest $5 mln in ferroconcrete plant in Chechnya
ROSTOV-ON-DON, April 15 (RIA Novosti) - South Korean investors will contribute
up to $5 million for the construction of a ferroconcrete plant in Chechnya, the
press service of the North Caucasus republic's president said on Tuesday.
South Korean representatives visited the southern Russian province over the
weekend to inspect local construction companies.
"Chechnya's construction ministry hosted talks on a joint investment project to
build a ferroconcrete plant envisioning funding from the South Korean side
worth approximately $5 million," the press service said.
South Korean company Ko & Chen is already building a brick-producing plant in
eastern Chechnya under an investment contract signed with the Chechen
government in February.
The plant, with annual capacity of 35 million bricks, is expected to produce
its first batch of bricks in May 2009.
Chechnya's economy and infrastructure were devastated in two military campaigns
in the 1990s and early 2000s, in the Kremlin's drive to wrest control over the
land from separatists.
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