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| HeidelbergCement Invests in Georgia HeidelbergCement purchased a stake of 51% in the Georgian cement producer Kartuli Tsementi. This is the first investment of HeidelbergCement in the Caucasus region. Located in Rustavi, 50 km from the Georgian capital Tbilisi, Kartuli Tsementi operates a grinding facility with a capacity of 100,000 tonnes of cement per year. HeidelbergCement plans to extend the capacity of the plant up to 500,000 tonnes of cement by early 2008 and later to increase the production of cement up to 1 million tonnes. Together with Azerbaijan, the Caucasian market with 13 million inhabitants currently absorbs 3.3 million tonnes of cement and is expected to grow up to 5 million tonnes by 2010. In November and December 2005 respectively, HeidelbergCement had acquired the cement companies Buchtarma Cement in Kazakhstan and Doncement in the Ukraine. write your comments about the article :: © 2006 Construction News :: home page |