In January, Azerbaijan produced about 140 thousand tons of cement, 40% more than in the same period last year.
Cement production in the past year decreased due to the fall in business activity as a result of the devaluation of the manat. 2.3 million tons of local cement was sold in 2016, 15% less than in 2015. It also had a negative impact on the construction sector.
Local manufacturers gradually strengthen the position in the cement market. Import of cement and cement clinker decreased by 100 thousand tons to 376 thousand tons ($ 17.9 million) in 2016. The export of cement raw materials in 2016 doubled and amounted to 184.4 thousand tons. Savings of foreign currency to import cement amounted to more than $ 9 million.
This trend continued into this year. In January, Azerbaijan imported only 1,000 tons of cement, 9 times less than in the previous year.
The combined capacity of the cement industry in Azerbaijan is 5-5.5 million tons per year. Of these, 85% account for three companies: JSC Holcim (Azerbaijan), LLC Norm and LLC HGC Group (former Gazakh cement plant). ----08D
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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