A new type of cement plant for Garadagh Cement has been launched today in the Garadagh district with the participation of Azerbaijani President Ilham Aliyev.
The plant will work on the technology of a dry method of cement production. This technology allows the saving of fuel and minimizing the impact on the environment; 300 million euro was invested into upgrading the company.
The main shareholders of the Garadagh Cement are Holsim ltd. - 66%, EBRD - 10% of "Azerbaijan Investment Company" - 10% Holsim auslandbeteiligungs - 3,61%, In addition, minority shareholders are about 800 citizens of Azerbaijan. The open JSC Gadaragh Cement was privatized in 1999.-6D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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