In 2017 the GCF and Hunnewell Partners jointly acquired 50% voting rights in the Georgian business of HeidelbergCement Group. The new joint venture operates: three integrated cement plants in central and eastern Georgia; a cement grinding facility and a cement terminal on the Black Sea coast; a network of thirteen ready-mixed concrete plants; and, two aggregate pits. Annual production capacity of the cement plants exceeds two million tons. Over the next five years the JV is planning to invest around US$100 million in capacity modernization and ready-mix concrete expansion projects. Within this program, major capital investment involves upgrading the Kaspi plant production from wet to dry process, which is expected to cut energy consumption by 50%.
