Danish engineer FLSmidth & Co A/S won a 150 million euros ($210 million) order to build a cement plant in Russia and its chief executive said on Friday that Russia is now the most promising market for such projects.
Rasmussen said that the big potential in Russia for cement plant sales stemmed from high economic growth, based largely on high energy prices and from the age of existing cement production capacity.
Eighty-five percent of the existing cement capacity is outdated and needs to be replaced, adding FLSmidth hopes to get more plant orders in Russia and is in contact with several potential customers.
The order will contribute beneficially to FLSmidth's earnings until commissioning in 2014, said FLSmidth, which is a global supplier of machinery and engineering services to the cement and minerals industries.
FLSmidth had said on Tuesday it won a preliminary deal for another cement plant in Russia expected to be worth over 100 million euros.
The new production line will have a kiln capacity of 8,500 tonnes per day, equivalent to approximately 3 million tonnes per year, making it the biggest new kiln in EuropeFLSmidth shares were down 2.4 percent by 0958 GMT, against a 2 percent drop in the Copenhagen bourse.
Source: Reuters
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