One of the key reasons that delays the project to implement stepping-up of production at Garadagh Cement is failure to acquire a new limestone field, Gareth Babbs, Holcim Regional General Manager, CIS, told journalists. "We are currently conducting prospecting. At expansion of 15 % capacity (about 1.5Mt of cement a year), we are ready to invest about US$120m with a three-year construction period."
"According to the recent investigation, cement production in Russia with annual capacity of 2Mt requires EUR300m investment and takes five years for construction.
He also said "existence of the field would mean acquisition of the raw material reserves for minimum 50 years, which would guarantee the receiving of additional 50Mt of limestone and recurrence of the investments allocated to the plant."