Russian company acquires stake in Uzbek cement plant

Uzbekistan 25 January 2022 11:23 (UTC +04:00)
Russian company acquires stake in Uzbek cement plant

BAKU, Azerbaijan, Jan. 25

By Natavan Rzayeva - Trend:

Akkermann Cement CA, a subsidiary of the Russian Akkermann Cement has acquired a 98.6 percent stake in the Uzbek Akhangarancement cement plant, Trend reports via the Uzbek Media Outlets.

The transaction was implemented with the attraction of financing from Russian Gazprombank, which is a strategic financial partner of Akkermann Cement.

All the profit that will be generated from the plant will remain in Uzbekistan and will be directed to the social and economic development of the country,” said the Chairman of the Board of Directors of Ackermann Cement.

The company's main assets are cement plants in Novotroitsk and Gornozavodsk (both in Russia), and now Akhangarancement will join them. In 2021, Ackermann Cement produced about 4 million tons of cement.


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