The European Bank for Reconstruction and Development (EBRD) has raised its stake in the equity capital of Holcim (Azerbaijan) OJSC in Azerbaijan (formerly Garadagh Cement Plant) to 20 per cent.
A statement from the EBRD read, “The bank will continue to support a major company in Azerbaijan, demonstrating continued support for the country's non-oil sector. In addition, the company is committed to sustainability standards, and will pursue the use of alternative fuels in its operations.”
Currently Holcim Azerbaijan’s shareholders are: LafargeHolcim (66 per cent), EBRD (10 per cent), Holcim Auslandbeteiligungs GmbH (10 per cent), and individuals (14 per cent).
