HeidelbergCement Caucasus will renovate and develop its cement plant in Kaspi, Georgia’s Shida Kartli region over the next two years, Agenda.ge reports.
HeidelbergCement Caucasus teamed up with the Georgian Co-Investment Fund and Hunnewell Partners. The three sides agreed that the final cooperation document should be closed by June 2016.
Of the $120 million investment, $100 million will be spent on introducing a new cement production line in the Kaspi cement plant. Those behind the project believed adding a new cement production line, which meant using a dry process, would substantially reduce the production costs.
Meanwhile, the remaining $20 million will be spent upgrading and developing the supporting network of ready-mixed concrete and aggregates plants in order to reach a strong vertically integrated business setup.
