Indian company invests in construction of cement plant in Georgia

Business Materials 9 June 2009 17:06 (UTC +04:00)

Georgia, Tbilisi, June 9 / Trend , N. Kirtskhalia/

Indian Pioneer Cement Industries will invest $150 million in two to three years through auction on license in production of mineral resources, Georgia's Economy Ministry said.

Cement lime facility in Marneuli region was been put for auction. Pioneer Cement Industries won the tender and paid $3.3 million for license. The campaign is responsible to make additional investments worth $150 million in coming two to three years. Cement plant will be built in an area of 100 hectares in the Marneuli region. As many as 350 jobs will be created.  

The Indian company already has relevant experience. It has already invested in cement industry in United Arab Emirates. Company's products are sold on the Middle East markets.

Pioneer Cement Industries built a plant in the UAE for 16 months. Sales totaled $50 to $100 million. The company will began investing in Georgia soon.

Do you have any feedback? Contact our journalist at: [email protected]