Azerbaijani company Matanat A will build a dry mortar production plant in Rostov region, a statement posted on the website of the Investment Promotion Agency of Rostov region says.
The agreement was signed by Rostov region Governor Vasily Golubev and the company's president Elkhan Bashirov at the 13th International Investment Forum in Sochi.
The plant is planned to be commissioned in 2017. Around 10 million euros will be invested in the construction. A 16.4 hectare area was allotted in Tarasov area.
"The company must receive a license to develop a quartz sand field in Kamensk region," director general of the agency Igor Burakov said. "The drilling operations were conducted. Sand samples were taken. Its quality suits an investor."
Matanat A company is a leader in the cement and gypsum mortar production in Azerbaijan. The company works with 22 commodity groups. It owns more than 200 brands and produces more than 1,000 products exported to Russia, Kazakhstan, Georgia, Turkmenistan, Iran, Ukraine and other countries.