Linklaters has advised Garadagh Cement, Holcim’s Azeri subsidiary, on the financing by EBRD of the EUR300m upgrade of its cement plant in Azerbaijan.
Garadagh Cement, the leading cement producer in Azerbaijan, is majority owned by Holcim. Its other shareholders include EBRD and the Azerbaijan Investment Company. The proceeds of the EBRD loan will finance the introduction of state-of-the-art dry process production technology which will bring the plant in line with international environmental standards.
The Linklaters team was led by Energy & Infrastructure partner Andrew Jones and included Managing Associate Simon Caridia.
Andrew Jones commented:
"We are delighted to have been able to bring together our expertise of emerging markets and of infrastructure and construction projects in order to help Garadagh Cement conclude this financing successfully."
The transaction became public on 12 October 2009.
For further information, please contact:
Toby Craig on +44 20 7456 4550 or
toby.craig@linklaters.com; or
Sarah Peters on +44 20 7456 2153 or
sarah.peters@linklaters.com
