GCP Cement name nomenclature
| • CEM I-Portland
• CEM II-Portland composite
• CEM III-High Temp Ore
• CEM IV-Pozzolana Cement
• CEM V-Composite
| | • A- up to 20%
• B – 21-35% ad.
| | • K-Clinker
• S-Slag
• D-Silica Fume
• P-Pozzolana/ Volcanic ash
• Q-Calcinated Natural Pozzolans
• V/W-Flue ash
• T-Schist
• L-Limestone, max 0.5%
• LL-Limestone, max 0.2%
| | Strength in 28 days
• 32.5- N/mm2
• 42.5- N/mm2
• 52.5- N/mm2
| | Hardening speed
• R - Rapid
• N - Normal
• L - Low
|
| CEM IV
• Pozzolana cement
| | B
• Have 21-35% of addition (which is in next section)
| | 42.5
• Hardens to minimum of
42.5 N/mm2 after 28 days
| | N
• Hardening speed is average
|
Source: KPMG with Management data
Appendix 5
Discount rate (1/2)
 Base discount rate calculation
In order to discount cash flows, we have used a WACC methodology, which is calculated as:
WACC= Ke * (E/(D+E)) + Kd * (1-T) * (D/(D+E))
Where: Ke =cost of equity;
E=market value of equity; Kd =cost of debt;
D=market value of debt; and T=corporate taxation rate
Each component of the WACC rate is discussed below. Given that cash flows were prepared in nominal AZN, our WACC calculations were prepared in AZN in nominal terms
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