Modernisation project reaches exciting milestone at the HeidelbergCement Georgia Kaspi Cement Plant
20 February 2019
Hunnewell Partners is pleased to announce that its modernisation project reached an exciting milestone on 8th February with the official opening of the HeidelbergCement Georgia Kaspi Cement Plant and new clinker dry production line.
HeidelbergCement Georgia is a joint venture between HeidelbergCement AG, a German multinational building materials company, and Cement Invest BV, an investment company jointly controlled by the Georgian Co-Investment Fund and Hunnewell Partners.
The opening of the state-of-the-art kiln at Kaspi is the culmination of an investment project which started in September 2016. Worth around US$100 million, the project focused on modernising the plant.
Irakli Rukhadze, Partner at Hunnewell Partners, comments: “I was delighted to attend the official opening ceremony of the plant and would like to offer my congratulations to the management team and staff who have worked so hard to make this day possible. This is an important occasion for the company as we see the results of a significant financial investment in the plant which positions it well for the future.
“HeidelbergCement Georgia is already the leading cement manufacturer in Georgia and this new facility will help it go from strength to strength.”
The opening ceremony was attended by a range of guests, including: the Prime Minister of Georgia Mamuka Bakhtadze; the Ambassador of Germany in Georgia H.E. Hubert Knirsch; CEO of HeidelbergCement Group Dr. Bernd Scheifele; HeidelbergCement Group Director of Northern and Eastern Europe-Central Asia and Member of the Managing Board Dr. Albert Scheuer; the General Director of HeidelbergCement Georgia Michael Hampel; Chief Executive Officer of Georgian Co-Investment Fund George Bachiashvili; and Irakli Rukhadze.