29th Mar 2007 11:30
CRH PLC29 March 2007 CRH INVESTS €210m IN UKRAINE CEMENT PLANT FIRST EVER JOINT IMPLEMENTATION PROJECT REGISTERED BY UN CRH plc, the international building materials group, announces that the UnitedNations Joint Implementation Supervisory Committee (JISC) has registered CRH'sproject to convert its cement plant at Kamenets-Podilsky in Western Ukraine fromwet to dry process. The €210 million total investment will be a flagshipproject for CRH in Central and Eastern Europe. This is the very first Joint Implementation Project to be registered (JI 0001).It is an important milestone in the abatement of CO2 emissions under the KyotoProtocol and demonstrates the importance of emission reductions to CRH and theparticipating countries, Ireland and Ukraine. Under the JI project, €140 million will be spent on replacing an existing 3million tonne per annum wet process plant with a new state-of-the-art dryprocess cement plant. It will have the potential to reduce emissions of CO2 inUkraine by up to 3 million tonnes by 2012 and is a significant part of CRH'scorporate CO2 reduction plan. An additional €70 million will be invested tomodernise the plant's existing cement milling capacity and infrastructure. Thenew plant will be the largest investment in the Ukrainian cement industry sinceindependence in 1991 and marks growing inward investment in the Ukrainianeconomy. CRH was assisted in the JI application process by a number of agencies notably;Global Carbon BV which developed the investment as a JI project; TUV SUD Groupwhich validated the project; the Ukrainian Ministry of Environment and the IrishEnvironmental Protection Agency which issued Letters of Approval and the UN JISCwhich completed the registration process. Commenting on this development, Liam O'Mahony, CRH Chief Executive, said "CRHhas operated successfully in Ukraine since 1999 and is one of the largest cementproducers in the country. This project is an important milestone in theabatement of emissions under the Kyoto Protocol and a clear sign of CRH'scommitment to reducing specific CO2 emissions across its operations. Itdemonstrates CRH's commitment to meeting the needs of the Ukrainian economy inan environmentally friendly and operationally efficient manner". Contact CRH at Dublin 404 1000 (+353 1 404 1000) Liam O'Mahony, Chief Executive Myles Lee, Finance Director Eimear O'Flynn, Head of Investor Relations Maeve Carton, Group Controller CRH plc, Belgard Castle, Clondalkin, Dublin 22, Ireland TELEPHONE +353.1.4041000 FAX +353.1.4041007 E-MAIL [email protected] WEBSITE www.crh.com Registered Office, 42 Fitzwilliam Square, Dublin 2, Ireland This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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