OREANDA-NEWS. May 27, 2009. Azarab Ind. Co (Iran) is going to implement an investment project to construct a cement works in the Vetka region, the Gomel oblast. The Gomel oblast executive committee has been commissioned by Presidential Decree No 261 of May 26 to sign the agreement, the presidential press service told BelTA.

Podkamenye and Shirokoye chalk deposits in the Vetka region will be used as a raw material source for cement production.

A cement works will produce 1,2 million tonnes of cement per year. It will be constructed within 28 months. The investment in the new manufacturing will make up at least ?185 million.

Belarusian companies will be involved in the geological exploration, will produce and supply non-standard equipment and spare parts, provide other services.

The agreement spells out that after the works is constructed Belarus will get an 11% share of the charter fund of the limited company BrilliantCementCompany set up in line with the implementation of the investment project.