Baikal Mining Company has concluded an agreement with Renaissance Heavy Industries to build the first stage of the Udokan Mining and Metallurgical Plant with the capacity of 12 million tons of ore per year.
The price of the agreement is some 28 billion rubles ($420 million).
The company will have to construct a technological complex, including a processing factory, a hydrometallurgical plant and a crushing and conveyer complex.
Construction is scheduled to be completed in 2022.
Renaissance Heavy Industries is a daughter company of RC Rönesans İnşaat Taahhüt A.Ş. (Turkey). (Ukrainian metal)