Garadagh Cement to invest $7m in 2006

Politics Materials 13 December 2005 15:15 (UTC +04:00)

In 2006 Garadagh Cement joint-stock company plans to invest $7m in Azerbaijan, Uwe Koehler, the chairman of Management Board of Garadagh Cement, told Trend..

Koehler said that the funds will be directed at the production, including a construction of a new electric substation.

Besides, the company plans to produce 1.3 million tons of cement in 2006 like in 2005.

Garadagh Cement currently has 550 employees and the salaries will be increased by 12% on the average in 2006, Koehler underlined.

In 2004 investments in Garadagh Cement comprised $6.5m and production reached 1.36 million tons, which is up 398,000 tons, or 41.4%.