Azerbaijan: EBRD increase stake in Holcim plant

The European Bank for Reconstruction and Development (EBRD) has raised its stake in the equity capital of Holcim (Azerbaijan) OJSC in Azerbaijan (formerly Garadagh Cement Plant) to 20 per cent.

A statement from the EBRD read, “The bank will continue to support a major company in Azerbaijan, demonstrating continued support for the country's non-oil sector. In addition, the company is committed to sustainability standards, and will pursue the use of alternative fuels in its operations.”

Currently Holcim Azerbaijan’s shareholders are: LafargeHolcim (66 per cent), EBRD (10 per cent), Holcim Auslandbeteiligungs GmbH (10 per cent), and individuals (14 per cent).