Georgian Cement, producing cement and concrete under the “Hunnewell Cement” brand, plans to expand its plant in Kaspi, the company has announced. The project and an Environmental Impact Assessment (EIA) report have already been submitted to the Environmental Supervision Department. Once approved, the company will be able to expand its clinker production line, the main raw material for cement.
According to the EIA report, the new technological line will increase clinker production by 1,200 tons per day and 378,000 tons annually, raising total annual output to a record 1,863,000 tons. The expansion is aimed at meeting growing local demand and reducing Georgia’s current reliance on imported clinker from neighboring countries such as Azerbaijan and Turkey. The construction phase is expected to employ around 300 people.
The report notes that the plant will primarily use coal as fuel, supplemented with used tires and natural gas. To mitigate environmental impact, 21 new emission points will be equipped with filtration systems to reduce dust. The plant will source water from the Mtkvari River, but operate a closed-cycle system to prevent discharge into surface waters.
Financially, Hunnewell Cement reported revenues of 659 million GEL in 2024, up 95 million GEL from 2023, with a net profit of 189 million GEL, nearly double that of the previous year. Total assets stood at 627 million GEL as of December 31, 2024. Ownership is split between Svetlana Lamprianova-Bejushvili (10%) and Cement Invest B.V. (90%), with Cement Invest B.V. itself owned 50.5% by Park Street Capital Lux Sarl, part of Irakli Rukhadze’s business holdings, and 49.5% by Meadowsweet Assets Limited, a company under the Co-Investment Fund founded by Bidzina Ivanishvili.
