The Catalan company La Farga Group, specializing in the production of semi-finished copper, intends to continue to expand in international markets, according to La Vanguardia. After the U.S. and China, its third objective will be to Russia.
In cooperation with the Russian company "RUSSKAT" Catalan company will build a new plant in Tula for the production of wire rod of copper scrap. "RUSSKAT" has already reported that the size of the investment is 50 million euros, which will be allocated by the bank Export Bank (Czech Republic) and Russian Transstroibank. In turn, the holding company La Farga Group has not yet announce the details: "At present we are working on the project, but a lot still needs to be clarified."
"RUSSKAT" and La Farga Group signed a letter of intent, which stipulated the establishment of a joint venture, which will be operational in 2014 and will produce 20 thousand tons of wire rod per year and will create 200 jobs.
The Russian company has already started work on the construction of the plant in Tula region. The project also involved an Italian company Continuous Properzi, with which La Farga entered into a strategic alliance. Together, they have built a worldwide 30 plants for production of copper wire rod.