EUR 300 mln to be invested to reconstruction of concrete plant in Garadagh

Currently, negotiations are held with EBRD, which is also the plant investor, for the purpose of raising a loan.

He said the producing capacity of the plant following reconstruction will reach 1.7 mln tons per year from the current indicator of 1.3 mln tons.

"The demand of the local market for concrete is growing each year, therefore, our share in the concrete market in 2007 dropped to 42-43% from 70% in 2004. By our forecasts, by the end of this year, the demand for concrete will rise by 3.8 mln tons", said he.

Considering the construction boom, the company predicts the growth in the country's demand for concrete up to 4 mln tons by 2011.

Holcim has been operating in Azerbaijan since 1999 and today the overall volume of its investments is EUR 60 mln.

/Day.Az/