A Chinese corporation, the world's leading manufacturer of cement, will place production in the Ulyanovsk region

On July 19 within the Cooperation Council of the Volga Federal District regions (Russian Federation) and the upper and middle reaches of the Yangtze river (People’s Republic of China) in the presence of the Presidential Plenipotentiary Envoy to the Volga Federal District Mikhail Babich, the provisional Governor of the Ulyanovsk region Sergey Morozov and the Vice-Chairman of the Board of shareholders of Anhui Conch Cement Company Wang Jianchao signed an investment agreement.

A Chinese corporation, the world's leading manufacturer of cement, will place production in the Ulyanovsk region

On July 19 within the Cooperation Council of the Volga Federal District regions (Russian Federation) and the upper and middle reaches of the Yangtze river (People’s Republic of China) in the presence of the Presidential Plenipotentiary Envoy to the Volga Federal District Mikhail Babich, the provisional Governor of the Ulyanovsk region Sergey Morozov and the Vice-Chairman of the Board of shareholders of Anhui Conch Cement Company Wang Jianchao signed an investment agreement. JSC Ulyanovsk Region Development Corporation acted as the third party.

"Today we have signed a large investment agreement with our Chinese partners. CONCH is among the three world's largest corporations on cement production. Cooperation with this company is a "quality mark of the investment climate" of our region. The fact that we started a joint project gives us serious benefits to our so-called "investment karma", - said Sergey Morozov, the provisional Governor of the Ulyanovsk region.

The head of the region also added that now the Ulyanovsk region is very closely cooperating with the People's Republic of China. For the last six years, the amount of foreign trade has increased nearly sixfold. That is why it is very important not to interrupt cooperation but to develop it into a new business method of work.

According to the specialists of the Ulyanovsk Region Development Corporation, the project involves construction of a plant on production of cement in the territory of the Terengulsky district, the Ulyanovsk region. The company invests 500 million dollars in construction of the enterprise. Production capacity of the plant will amount to five thousand tons of cement per day. Within the project, 400 new workplaces for inhabitants of the region will be created.

The Chinese investors commend the efforts of the regional government in improvement of the investment environment.

"Sergey Ivanovich Morozov provides substantial support and has a strong interest in our investment project. And we hope that here we will receive help at all further stages on its implementation: registration of all necessary documentation and undertaking of the administrative procedures. Now our regions - the Anhui Province and the Ulyanovsk region - actively cooperate at the head of territory governments' level. This cooperation is very productive. By constructing a modern technological enterprise, we look forward to contributing to the development of the Ulyanovsk region, and the Volga Federal District in general", - reported Wang Jianchao, the representative of the CONCH corporation.

According to the specialists of the Development Corporation, negotiations with Chinese partners lasted for over a year; one of the final meetings took place within the regional delegation's visit to China last June.

"The company has its own design institute. And a research center that allows to implement advanced manufacturing technology and to create a high-quality product with low cost price. Decrease in the value of cement is important for us because it helps to reduce the cost of construction of both industrial facilities and housing for the residents of the Ulyanovsk region", - noted Sergey Vasin, the CEO of the Ulyanovsk Region Development Corporation.

We would like to remind that the delegation of the Ulyanovsk region headed by the provisional Governor Sergey Morozov conducted a working visit to China on June 23-24, where it held a number of meetings and negotiations with representatives of Chinese business and also participated in a meeting of the intergovernmental Russian-Chinese Commission on investment cooperation.

At the year-end 2015, more than 90 billion rubles of investments were attracted to economy of the region. Enterprises under 11 large investment projects become fully operational. Over 4 thousand workplaces were created. This year it is planned to create jobs for at least 10 thousand residents of the Ulyanovsk region and to attract 100 billion rubles of investments. For the first quarter of the current year, 13 future residents declared intention to implement their projects in the territory of the region. The estimated investment will total 12 billion rubles. It is by 24 times more than the comparative period. Projects implementation will allow to create at least one thousand new workplaces.

As a reference:

The Anhui Conch Cement Company (CONCH, China) is a government-owned company, one of world leaders on cement production. The cement is of high quality and is compliant with standards of the American ASTM and European EN-197. It is exported to more than 40 countries of the world. Shares of the company were listed in the Hong Kong and Shanghai Stock Exchange. At the end of 2013, the corporation had more than 140 subsidiaries. Assets of CONCH total 16 billion US dollars, and 50 thousand people work for the company.

Source: The Government of Ulyanovs Region