Garadagh Cement to Invest US$7m

Garadagh Cement to Invest US$7m
Published: 14 December 2005

In 2006, Garadagh Cement joint-stock company plans to invest US$7m in Azerbaijan, Uwe Koehler, the chairman of Management Board of Garadagh Cement, told local reporters. Koehler said that the funds will be directed at the production, including a construction of a new electric substation. Besides, the company plans to produce 1.3Mt of cement in 2006 as in 2005. Garadagh Cement currently has 550 employees and the salaries will be increased by 12 per cent on average in 2006, Koehler underlined. In 2004 investments in Garadagh Cement comprised US$6.5m and production reached 1.36Mt, which is up 398,000t, or 41.4 per cent. Still no news on the new kiln line which has been under planning for the last two years.