New cement plant to be built
A new cement plant will be built in Azerbaijan, with the Azerbaijan
State Investment Company holding a 10% share in the project.
The project envisions both construction of a new plant and upgrade of the existing one by Swiss cement giant Holcim. A relevant memorandum will be signed shortly with the company's Baku office, Azerbaijani Economic Development Minister Heydar Babayev told reporters.
The project is estimated at 150 million euros.
The annual output capacity of the new plant to operate according to European standards will be 1 million tons.
Garadagh Sement OJSC is the country's only cement producer. 86% of its shares is owned by Holcim, while 10% - by the European Bank for Reconstruction and Development.
The project envisions both construction of a new plant and upgrade of the existing one by Swiss cement giant Holcim. A relevant memorandum will be signed shortly with the company's Baku office, Azerbaijani Economic Development Minister Heydar Babayev told reporters.
The project is estimated at 150 million euros.
The annual output capacity of the new plant to operate according to European standards will be 1 million tons.
Garadagh Sement OJSC is the country's only cement producer. 86% of its shares is owned by Holcim, while 10% - by the European Bank for Reconstruction and Development.
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