Displaying items by tag: Hunnewell Partners

Georgia: Hunnewell Cement, a subsidiary of HeidelbergCement Georgia, has launched a new project to use tyres as an alternative fuel at its Kaspi cement plant, with support from the Georgian government. The project has a budget of US$2.1m, and is expected to create additional job opportunities. It marks a shift from the use of coal and natural gas at the plant, to ‘significantly’ reduce environmental impact and contribute to sustainable development.

Economy minister Levan Davitashvili said "Our goal is to minimise environmental pollution from ‘waste’ while promoting economic development and creating added value.”

Georgia: Heidelberg Materials has completed the divestment of its joint venture in Georgia. It previously held a 45% state in CaucasusCement Holding BV (CCH), the parent company of HeidelbergCement Georgia Ltd and Terjola Quarry Ltd, Tbilisi.

Heidelberg Materials sold its share to its long-term joint venture partner Cement Invest BV, an investment company that is jointly managed and owned by the Georgian Co-Investment Fund and Hunnewell Partners. The joint venture’s scope included two integrated cement plants, 14 ready-mixed concrete plants and two aggregates plants. The partners agreed to not disclose the financial terms of the transaction.

Heidelberg Materials said that these latest steps reflect its continued simplification of its country portfolio and would help to position the company as front runner on the path to Net Zero and circularity in the building materials industry.