The government has increased the limit for the extraction of minerals for the company "Georgian Cement". The corresponding amendment to the mining license was issued in the government's decree of February 28.
For the increased volume of mineral extraction, which totals 287,630.4 cubic meters, "Georgian Cement" must pay 412,687 GEL to the budget within the period specified by the license issuer.
According to the document, the National Agency of Mineral Resources has been granted the right to amend the “Mineral Mining License #10000963 issued to Georgian Cement in the vicinity of the village of Khanji-Gazlo in Marneuli Municipality for the purpose of extracting sand and gravel from the Lezhbadin mineral deposit and to determine the amount of mineral to be extracted by the end of the license validity period - October 24, 2025 - at 718,414.5 cubic meters.”
"Georgian Cement" is the largest cement producer company in Georgia. Until September 2024, the company operated on the market under the name HeidelbergCement Georgia and was one of the largest German brands in the country.
The German Heidelberg Materials owned a 45% stake in the company, and it was bought out by Bidzina Ivanishvili's co-investment fund and businessman Irakli Rukhadze's group "Honeywell Partners". It was immediately announced that the company would retain the Heidelberg Cement brand name for a certain period of time, and then enter the market with a new brand. As part of this change, the company offers its products to consumers under the name "New Honeywell Cement" from August 2024.
