Preliminary Date of Construction of 2nd Cement Works in Azerbaijan Determined

Business Materials 18 April 2007 16:35 (UTC +04:00)

Azerbaijan, Baku/ Trend , corr. I. Khalilova / Riad Gasimov, the Deputy of the Executive Director of "Azerbaijan Investment Company" (AIC) JSC, has said that France's largest cement producer - Lafarge is expected to launch conducting a feasibility study of the project on construction of a new (second) cement works in Azerbaijan. He suggests that the construction of the forthcoming plant will be launched until the end of 2007, and will be completed within a year and a half, in 2009.

Geologists of Lafarge have completed studying limestone deposits, French specialists have come to conclusion that a limestone deposit in Tovuz District of Azerbaijan turned out to be the most perspective to them, the Azerbaijan Economic Development Ministry says.

Experts of Lafarge are expected to pay their next visit to Baku in April, 2007. During the forthcoming visit of the French experts, the parties are expected to agree all details of the mentioned project and forthcoming construction. The French guests will also hold negotiations with AIC, which is expected to come out as a partner in this project.

The project is estimated at about €100-150 mln., which are expected to be intended for the construction of the enterprise with the most sophisticated technologies. The production capacity of the forthcoming plant is expected to reach 1 mln. tons of cement per year. AIC is expected to take part in the construction of the mentioned cement works at a level of 20 %, with all the rest financing by France's Lafarge.