The European Bank for Reconstruction & Development (EBRD) has started realising plans of support of the major cement producer in Azerbaijan, Garadagh Cement (GC) OJSC, on construction of Kiln Line #6.
The Bank informs that the loan agreement with the cement producer has been signed.
Already this week EBRD country manager for Azerbaijan Francis Delay talked of expectations that the loan agreement with GC will be signed in a couple of weeks.
The EBRD Board of Directors approved financing of this project in May and its financing will be opened during this year.
The Bank announced the process of Expression of Interest since 17 June for consulting services on supervision over loan borrower GC by the lender.