German building materials firm invests €24 million into Russia
Published time: 14 May, 2008 11:51 Edited time: 14 May, 2008 15:51
Germany’s building materials manufacturer Xella is launching its first production unit in Russia. The company is investing €24 million in the production of its aero concrete on the premises of a concrete plant in the city of Mozhaisk near Moscow
This is in response to skyrocketing demand and prices for building materials.
Moscow is now the biggest real estate market in Europe. Construction has caused a shortage of raw materials supply such as cement.