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Cement production project launched in Georgia

Business Materials 21 October 2019 18:02 (UTC +04:00)

BAKU, Azerbaijan, October 21

By Tamilla Mammadova – Trend

Cement production project worth $200 million has been launched in Georgia, Trend reports citing Georgian media outlets.

The project is carried out by Pioneer Cement Industries, which is based in the United Arab Emirates and is part of Raysut Cement Company SAOG.

Pioneer Cement is licensed to produce limestone in Georgia. According to the company, Georgia gives Pioneer Cement the opportunity to move from the Middle East market to a new one, which is characterized by growing infrastructure.

Within the new project, the company will construct an integrated cement plant. The plant will be built near Tbilisi not far from the limestone deposits. Loan and equity agreements have now been concluded, and the construction of the plant is scheduled to begin in the fourth quarter of 2019.

“We started implementing a rather ambitious expansion strategy in the region. In this regard, the launch of the Pioneer Cement Georgia project in Georgia represents a significant geographical diversification,” Plant Manager at Raysut Cement Company Manash Ranjan Sanyal said.

Speaking about the project, he noted that expansion to Georgia is an important milestone for Pioneer and its subsidiary Raysut.

"We are confident that this project will further strengthen our position in the region," he said.

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