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Agreement signed on construction of new cement plant in Azerbaijan - UPDATED

Agreement signed on construction of new cement plant in Azerbaijan - <font color=red> UPDATED</font>

01 March 2011 11:15 (UTC +04:00)

Baku. Ali Ahmedov â€“ APA-Economics. Azerbaijanâ€™s Norm LLC and Chinese China Triumph International Engineering Co have signed an agreement on the construction of Gizildash Cement Plant.

According to APA-Economics, production capacity of the plant to be constructed in Azerbaijanâ€™s Garadagh District, will be 5 000 tons of clinker per day and 2 mln tons of cement per year. It will be the biggest cement producing company in the Caucasus.

Wide geological researches were conducted in 10 000 ha area within the past 3 years in connection with the construction of the plant. Geological exploration works via digging were conducted in 1000 ha area. Near 2000 raw material examples have been gathered from different place of the republic and analysed in specialized labs of Germany, France, India, China and Turkey.

The plant will be put into operation in 2013. $400 mln will be spent to the plant.

Director General of Norm LLC Ismayil Erkova says company will pay AZN 200 mln tax during first 10 years of activity. 100 000 tons of well cement will be produced per year.

Note that, Norm LLC has been in operation since 2006.