In October Lafarge specialists will visit Azerbaijan to discuss field for cement factory

In October Lafarge specialists will visit Azerbaijan to discuss field for cement factory
Published: 05 October 2007

Azerbaijan continues negotiations with French Lafarge Company to construct in Azerbaijan cement factory.

Anar Akhundov, Azerbaijan Investment Company (AIC) Chief Executive, reported that next discussion to determine the field will be held in the nearest time.

“In October we expect visit of Lafarge specialists. During the visit we will discuss potential fields for construction of the factory,” A.Akhundov noted.

Earlier Azerbaijan offered to Lafarge a field in Garadagh region or Gobustan region (probably the second one) because of refuse of France to invest in far regions. There is a potential raw base in Tovuz region.

Under primary estimate, factory capacity can be 1-1.5 million tons that makes 40-50% of Azerbaijani cement market in case investments of EUR150-200 million are made in the project. Lafarge, Ministry of Economic Development and AIC signed the Memorandum of Understanding for the project on Dec.28, 2006.