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Plant suppliers in for Russian windfall

Plant suppliers could land a chunk of £209 million ($400 million) business up for grabs as Aricom expands its Russian operations.

The company is expanding its iron ore operation in the country and is looking for plant manufacturers to supply its fleet.

“We've previously bought mining fleet from Volvo, and are now in negotiations with them again alongside Caterpillar, JCB and Komatsu,” chief executive Jay Hambro told Construction News.

“We're talking about large earth moving equipment, big shovels and 100 tonne mining trucks as well as some of he smaller earth moving equipment.”

The company is understood to have sent £10.4 million ($20 million) on on-road fleet from Volvo.

“We're in talks at the moment,” Mr Hambro said. “We've just under $400 million in cash on the balance sheet for purchasing.”