EBRD to provide Garadagh Cement with EUR 170m loan

EBRD to provide Garadagh Cement with EUR 170m loan
Published: 11 March 2009

The EBRD is considering arranging the financing of Garadagh Cement OJSC modernisation and expansion. The company is planning to increase clinker production capacity from 2616tpd to 4000tpd and annual cement production capacity from 1.1Mt to 1.7Mt, without clinker imports. The plant is located approximately 35km south of Baku, the capital of Azerbaijan. The financing will be drawn down during the construction period from mid 2009 through the first half of 2011, when commissioning of the new kiln is expected.