TMM To Build Construction Materials Plant in Kharkiv

TMM Real Estate Development (TR61 GR: BUY) announced that it will build a USD 3 mln plant that will produce dry construction mixtures on a 1.29 ha landplot in Kharkiv. The plant will have an annual capacity of 100 ths mt, which will mostly be used for TMM’s own projects. Construction is expected to take 1.5 years. Andriy Gostik: TMM does construction works at its projects using in-house construction capacities and delivers apartments with fine finishing as opposed to the shell & core of most other Ukrainian residential developers. Thereby, the company both saves on costs and is able to sell apartments with a premium to the market. The construction mixtures plant will allow the company to better service its expanding project portfolio by increasing its supply of in-house raw materials used in the company’s fine finishing works.