Azerbaijan’s leading producer Garadagh Cement OJSC, forecasts further growth in domestic demand for full year 2008. Horia Adrian, general director of Garadagh Cement, said that since 2002 cement demand in Azerbaijan has grown 2-4 fold. “In 2008 we expect it to rise up to 4.3Mt,” Adrian said.
Meanwhile, Garadagh said it hopes to attract the European Bank of Reconstruction and Development (EBRD) to to help finance reconstruction of an old factory. Holcim has allocated EUR 300m for new production line. And Adrian added: “Currently we are negotiating with EBRD on its possible participation in the project”.