Two New Fields Considered for Construction of Cement Plant

Business Materials 2 October 2007 14:43 (UTC +04:00)

Azerbaijan, Baku / Trend I.Khalilova / Two fields, one in Garadagh and one in Gobustan, have been offered to the French company Lafarge for the construction of a cement factory, the Government said on 2 October.

The Azerbaijani Investment Company (AIC) intends to appeal to the Ministry of Ecology for documents on these fields, Heydar Babayev, the Azerbaijani Minister for Economic Development, said on 2 October.

"Technical specialists are to arrive in Azerbaijan this week to study these fields," he said.

The project is assessed at € 100-150mln, which will be for the construction of the enterprise with upgraded equipment. The capacity of the plant will be 1mln tons. The share of Azerbaijan to be represented by AIC in the project is 20% and the other part will be provided by Lafarge.