EBRD loan to boost cement maker`s output
The European Bank for Reconstruction and Development
(EBRD) has provided a €120 million loan to Garadagh Cement, the
leading cement producer in Azerbaijan, to support the company`s
drive to improve expand production and energy efficiency.
The proceeds of the EBRD loan will finance the introduction of state-of-the-art dry process production technology at Garadagh Cement, which will bring the plant in line with international environmental standards.
The shift from the wet to dry process will also help the company reduce its overall energy consumption while increasing its production from 1.3 to 1.7 million tons of cement annually. The project will also lead to Garadagh Cement`s reduction of CO2 emissions by almost 10 percent.
Garadagh Cement is an integrated manufacturer of clinker and cement operations in Azerbaijan. It is majority-owned by Holcim group, one of the leading global cement, ready mixed concrete and aggregates producers and a world leader in environmental practices in the construction materials sector.
The EBRD holds a 10 percent stake in Garadagh Cement, along with Azerbaijan Investment Company and individual shareholders holding, respectively, 10 and 10.6 percent of the shares.
The proceeds of the EBRD loan will finance the introduction of state-of-the-art dry process production technology at Garadagh Cement, which will bring the plant in line with international environmental standards.
The shift from the wet to dry process will also help the company reduce its overall energy consumption while increasing its production from 1.3 to 1.7 million tons of cement annually. The project will also lead to Garadagh Cement`s reduction of CO2 emissions by almost 10 percent.
Garadagh Cement is an integrated manufacturer of clinker and cement operations in Azerbaijan. It is majority-owned by Holcim group, one of the leading global cement, ready mixed concrete and aggregates producers and a world leader in environmental practices in the construction materials sector.
The EBRD holds a 10 percent stake in Garadagh Cement, along with Azerbaijan Investment Company and individual shareholders holding, respectively, 10 and 10.6 percent of the shares.
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