Kurum Holding to build new plant in Russia

The Turkish company Kurum Holding, which specializes in the production of rebar and other steel products used in the construction industry, has announced its intention to build a new steel plant in Russia's Rostov Region, the region's administration said. The new plant, which will be located in Volgadonsk, will be completed in one and a half years. The estimated value of the investment is $150 million. The details of the project were discussed during the meeting held between the heads of Kurum Holding and the Rostov region's Minister of Economy, Trade, International and Foreign Economic Relations, Mr. Victor Deryabkin. Kurum Holding chose Volgadonsk as the location for its new project because of its good geographical location, established transportation system, close proximity to the main electric-power sources and because of the large amount of scrap transported through the region. Mr. Deryabkin for his part promised to provide all necessary assistance to Kurum Holding in all stages of the project's implementation.