Garadagh Cement, country s major cement manufacturer, is going to sign an agreement with the European Bank for Reconstruction and Development (EBRD) shortly, whilst the exact date of signing is still to be clarified, the company told Trend.
The European Bank for Reconstruction and Development (EBRD) adopted a purchase of 20% of Garadagh-Cements assets for $10m in a meeting of the Board of Directors 25 July. The EBRD plans to enter the fifth of shareholders for 5-7 years.The project with the budget of $13.3m targets decreasing environmental risks.
Having started its operation in 1999, Holcim Group achieved a great success at Garadagh Cement Plant and further in Azerbaijans market. At the moment Garadagh Cements production is widely used for many large-scale projects in the country.