A Protocol of Intention signed on a unilateral order has been sent to the French cement producer Lafarge by the Azerbaijan Government. The Azerbaijani Minister for Economic Development, Heydar Babayev, informed Trend that the protocol was approved by the Azerbaijani Investment Company.
We are now awaiting a response from Lafarge. There are plans in hand to establish cement production with this company in Azerbaijan, Mr. Babayev noted.
Maximum participation of the project with the investment company is 20-25%, and the balance will be guaranteed by Lafarge. Furthermore no State guarantee is provided for the investor's participation.
The project budget of the cement plant is $110-120mln with a capacity of 1-1.25mln tons. The situation of the plant will depend on the feasibility study.
The investors will view the infrastructure, railway and automobile routes so that the position of the plant will be not too far from the crude field, the Minister stressed