Russia: Heidelberg Materials said that it plans to expand in Russia after previously saying that it had halted investments in the country due to the war in Ukraine, according to Bloomberg. The company is planning a US$200m expansion of its plant near St. Petersburg. Heidelberg said in a statement “It is a self-financed project of the local subsidiary related to environmental and CO₂ constraints. It does not constitute an investment by Heidelberg Materials.” There is reportedly no evidence that the company broke any laws or sanctions, and it previously said that it operates a ‘pure local business in Russia, on a limited scale.’
It operates three cement plants in Russia with a total capacity of 4.7Mt/yr.