EBRD Grants Wienerberger Kirpich a EUR 13 Million Loan for a New Brick Plant

18. Juli 2006, 00:00

Wienerberger Kirpich, a subsidiary of Austrias Wienerberger AG , and the European Bank for Reconstruction and...

Wienerberger Kirpich, a subsidiary of Austrias Wienerberger AG, and the European Bank for Reconstruction and Development (EBRD) have signed a loan agreement, under which the company will get EUR 13.3 million for a new brick plant, the EBRD said in a press release.

The EBRD statement reads that the bank is ready to invest EUR 2.5 million in the companys capital and receive a 18.1-per-cent stake. The remaining amount will be in the form of a loan. The total cost of the project is estimated at EUR 38 million.

The plant will have a planned capacity of 120 million front bricks a year, or 220 million full bricks. The plant is expected to be built near the village of Kiprevo, 120 km southeast of Moscow.

Wienerberger Group is a large brick producer that concentrates on producing and selling bricks around the world.

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