Azerbaijan, Baku, March 1 / Trend N.Ismayilova /
Capacity of the new Gizildash Cement plant can be increased from two million tons to six million tons of cement per year in the future, Norm Company CEO Ismayil Erkovan and China Triumph International Engineering (CTIE) Chairman Peng Shou said on Tuesday.
The agreement on the construction of the plant in Baku's Garadagh district was undersigned by Erkovan and CTIE Chairman Peng Shou today.
"Increasing the plant's capacity will be carried out in phases, in parallel with the development of the country's economy" Erkovan said.
According to him, neighboring countries such as Georgia, Russia, Turkmenistan and Kazakhstan are considered as potential markets for export of cement to be produced at the plant.
The plant will be commissioned in late 2013. The project, which is one of the largest projects in the non-oil sector, is valued at approximately $400 million, alongside tax payments. Production meeting the API cement standards that have not been produced in the Caspian region to date will turn Azerbaijan into an exporter of cement to oil producers. Production capacity of the plant will hit 5,000 tons of clinker per day and two million tons of cement per year.