Azerbaijan: Akkord Cement intends to increase production at its cement plant to 3Mt/yr of cement by 2016. Suat Chalbiyiyk, Deputy Chairman of the Akkord Board of Directors, made the announcement and said that US$570m would be required for the project. The source of the funding has not yet been identified.
"With the second phase of production we intend to increase production of clinker up to 2Mt/yr and cement production up to 3Mt/yr. We estimate that, by 2016, cement demand is going to increase up to 5.5 – 6Mt/yr," said Chalbiyik.
At present Akkord Cement has a cement production capacity of 1.2Mt/yr.