Uralkali, Polymetal Investor to Pay $1 Billion for Railcar Plant
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Russian billionaire Alexander Nesis, an investor in OAO Polymetal and OAO Uralkali, plans to spend $1 billion on a railcar-factory project to meet domestic demand for transporting raw materials from mines and smelters.
“We reckon upon a simple thing,” he said in an interview. “Russia has one of the largest railcar fleets in the world and the majority of these are old and need to be replaced soon.”