Displaying items by tag: Azerbaijan

Azerbaijan: Azerbaijan intends to become self sufficient in all building materials, according to the country’s Deputy Minister of Economy Niyazi Safarov, who was speaking during the recent Azerbaijan-EU Business Forum in Baku.
"Today, Azerbaijan is fully self-sufficient in many types of building materials, for example cement and brick,” said Safarov. "The development of the construction sector allows the creation of new jobs, attracts investment and increases demand in other sectors of the economy.”

Azerbaijan: Akkord Cement plans to increase production at its Gazakh plant to 1.3Mt/yr from 1Mt/yr. It is working with an unnamed German company on the investment for the project, according to the Trend News Agency. The cement producer mostly sells its cement locally, with some export sales to Georgia.

Azerbaijan: Holcim Azerbaijan has launched its Spesial 400 Cement product. The general-purpose cement product is intended for mid-strength concrete applications. It follows the launch of the Optimal 300 product in 2017.

Azerbaijan: Cement production rose by 243% year-on-year to 2.88Mt in 2017. Data from the State Statistics Committee showed that the overall value of building materials produced increased by nearly half to US$333m in the period, according to the Trend News Agency.

Azerbaijan: Frederic Guimbal was appointed director general of Holcim Azerbaijan OJSC. Guimbal took up his duties in October, replaced Rossen Papazov in this post. Prior to this role, Guimbal served as CEO of Holcim India.

Azerbaijan: The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has declined to increase its participation share in the capital of Holcim Azerbaijan to 20%. No reason for the refusal has been disclosed. The bank currently holds a 10% share in the cement producer, according to Trend News Agency. The EBRD has been considering increasing its share in the cement producer since mid-2016. It said that it would continue its support in the development of Azerbaijan’s non-oil sector. Holcim Azerbaijan’s main shareholder is LafargeHolcim. It owns a 66% of the company. The bank expects government infrastructure projects to pick up the sector in the medium to long term.

Azerbaijan: The Qazax Sement Zavodu LLC cement plant has merged with the Akkord Beton LLC concrete plant. The Ministry of Taxes of Azerbaijan reported the merger.

Azerbaijan: The board of directors of the European Bank for Reconstruction & Development's (EBRD) has decided to raise its stake in Holcim Azerbaijan to 20%. The move is intended to support the company’s energy efficiency through the use of alternative fuels.

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

LafargeHolcim acquired a controlling stake in Holcim Azerbaijan, formerly Garadagh OJSC, during a privatization process in 1999. The EBRD currently owns a 10% share in the cement producer.

Azerbaijan: In the five months of 2016, cement production in Azerbaijan decreased by 30.3%. This is primarily due to the fall in business activity and a reduction in public investment in the economy. In January - May 2016 cement production was 829,000t, according to the State Statistics Committee. Over the same period concrete plants produced just 177,000t of concrete, 60% less than for the comparable period of 2015.

Azerbaijan: The European Bank for Reconstruction and Development (EBRD) plans to increase its stake in Holcim Azerbaijan to 20% from 10%.

"The EBRD is considering an additional investment in Holcim OJSC to increase the bank's stake in the company, with a view to extend its participation in the business," the EBRD said in a statement. The bank intends to support the company’s energy efficiency through the use of alternative fuels. On 20 July 2016 the EBRD board of directors will start a preliminary review of the issue of increasing the stake in Holcim Azerbaijan.

Holcim Azerbaijan produces 35 - 40% of Azerbaijan's cement and clinker. The company's main shareholders are LafargeHolcim (66%), EBRD (10%) and Holcim Auslandbeteiligungs GmbH (10%).