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Belarus cancels deal with Iranian firm to build cement plant
- Iran: Monday, October 08 - 2012 at 06:21
Belarus has cancelled an investment agreement under which Iran's Azarab Industries Co was to build a cement plant in the Vetka district. Under the agreement, the Iranian company was to invest at least $200m in the project and complete the plant within three years. The investor was also to be granted the right to develop two chalk deposits near Vetka for a period of 50 years and export up to 70% of the output of the 1Mt/yr plant. However, Azarab Industries failed to commence work on the project, said Uladzimir Dvornik, head of the Homel Regional Executive Committee. "There has yet been neither reply nor action from the Iranian company, which does not contribute to the implementation of the investment project," Dvornik said.
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