Baoli Bituminato invests US$2.7 bn in Russian infrastructures
Singapore-based company Baoli Bitumina Singapore (BBS), a subsidiary of UK-based firm Denimotech Holdings and part of Bitumina Group is reportedly investing US$2.7 billion in infrastructure projects of the Far Eastern Federal District of the Russian Federation.
A memorandum of understanding (MOU) on trade, economic and investment cooperation with the Ministry of Development of the Far East and the company from Singapore was signed during the Krasnoyarsk Economic Forum held recently.
Specialising in the production of bitumen, BBS provides bitumen & asphalt solutions, covering the spectrum of production, packing, shipping and export of bitumen, as well as assisting in developing and producing specialty products like polymer modified bitumen (PMB) and related services, to parties and vendors along the supply chain.
With US$50 million allocated to the construction of a bitumen plant and an estimated US$200 million set aside for developing maritime infrastructure, the new facility will be serving both domestic and foreign markets; and will focus on exports to China, Japan and the Southeast Asia.