Azerbaijan, Baku / corr. Trend I.Khalilova / The Executive Director of Azerbaijan Investment Company JSC (AIC), Anar Akhundov, said that AIC is completing the negotiations with the European Bank for Reconstruction and Development (EBRD) and Swiss Holcim with regards to participation in Garadagh Cement.
According to him, it needs to resolve the juridical issues concerning the proposals of Holcim to AIC.
According to him, the shares of Garadagh Cement will be acquired with nominal plus of premium because this enterprise already has a market and brand and it makes profit. The project of Garadagh Cement envisages transition to the production on the base of dry technology.
The EBRD Board of Director made a decision to acquire 20% share for $10 mln in Garadagh Cement. The project aims to decrease the environmental impact.