ECONOMY
CEMENT PRICES IN AZERBAIJAN TO BE REDUCED VERY SOON
Mr Aliyev said that during negotiations carried out by the Ministry of Economic Development and the management of Garadag-Cement JSC, the only producer of cement in Azerbaijan, an agreement was reached to prevent the artificial hiking of prices through their distributor companies.
That apart, continued Mr Aliyev, to prevent cement shortages his ministry was considering its import into Azerbaijan and very soon they would come up with the additional demand for cement for the country. Besides that the government was in negotiations with various companies for the construction of a new cement factory to create competition in the market and prevent the artificial hiking of prices. As part of the variants being considered, he mentioned of the proposal from the Azerbaijani company Altai-A.
Not long ago the retail price of cement on the local market rose from 320-330 thousand manat per ton to 380-400 thousand manat. This prompted the Department of Antimonopoly Policies under the Ministry of Economic Development to start investigating the reason for the price increase.