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Azerbaijanâ€™s major cement maker holds groundbreaking ceremony for a new furnace

14 April 2009 14:22 (UTC +04:00)

Baku. Rashad Suleymanov - APA-Economics. With the participation of President Ilham Aliyev, Azerbaijanâ€™s key cement maker Garadagh Cement held a groundbreaking ceremony for a dry-technology furnace.

Markus Ackermann, the Chief Executive Officer of Holcim, said the project is supported by Government of Azerbaijan at the high level.

In his words, Garadagh Cement Plant has been modernized over the past decade to produce high-quality products that meet local and international standards.

Markus Ackermann stressed that Garadagh Cement continues to introduce new technologies, reduce environmental pollution, and to raise output.

Dry cement production technology allows saving fuel and minimizing environmental pollution.

This $400 million project is one of the major non-oil sector projects in Azerbaijan.

The Head of State was informed that modernization of the plant will be completed in 2011.

Construction of the new furnace will increase production capacity by 30 percent.

Garadagh Cement is owned by Holcim (69.6%) (Switzerland), Azerbaijan Investment Company (10%), EBRD (10%) and about 1 000 individuals (10.4%).