Large cement producer in Azerbaijan increases prices
Garadagh Cement OJSC announced its price increase for cement products at a level of 16% from 1 December. The reasons for the price increase are the inflation rate, an increase in prices of imported coal, production and personnel costs and heavy modernization expenditure.
In 2007, the company invested about 10 mln AZN on modernization projects and in 2008 the planned amount is about 7 mln AZN, which will be mainly spent for modernization in order to meet the European environmental standards.
