PM announces $70m expansion project at Kaspi cement plant

Georgia’s Prime Minister, Irakli Kobakhidze, has announced the launch of a 70 million US dollar investment project at the Kaspi cement plant operated by Honeywell Cement, describing it as a new stage in the company’s development.

Speaking at the presentation of the project in Kaspi, Kobakhidze said the investment would establish a completely new and modern technological production line for cement manufacturing.

“I am pleased that today Honeywell Cement’s Kaspi cement plant is entering a new stage of development,” the prime minister said.

Kobakhidze noted that the company was currently the only producer in Georgia capable of carrying out the full production cycle for cement.

According to the prime minister, the project will increase annual production capacity by 400,000 tonnes, bringing total output to two million tonnes per year.

He said the expansion would help Georgia become fully self-sufficient in cement production and reduce dependence on imports for major infrastructure and development projects.

“Our main objective is to strengthen the country’s economic independence, qualitatively reduce dependence on imports and provide the local market with products of the highest quality,” Kobakhidze stated.

The prime minister also said the facility would be equipped in line with modern environmental standards aimed at minimising environmental impact and introducing what he described as “green production principles”.

Kobakhidze thanked engineers, technical personnel and partner organisations involved in the project, including the Georgia Co-Investment Fund, Honeywell Partners and GIG Holding.