Azerbaijan, Baku / Trend corr. I.Halilova / The Ministry for Economic Development of Azerbaijan reported that the Joint-Stock Company, Azerbaijani Investment Company (AIC) intensified its work with the French cement producer Lafarge to construct a new cement plant.
Lafarge chose the Tovuz region of Azerbaijan in which to construct a cement plant due to its abundance of limestone fields for raw materials. AIC sent its employees to Tovuz to depict the area for the plant. The cost of the project is estimated at €100-150mln and will include modern technology and produce 1mln tons of cement.
AIC will finance only 20% and the balance will be paid for by Lafarge.