EBRD provides a €8-mln loan to Azerbaijan's METAK company

21.12.2017,12:30


December 21, Fineko/abc.az. The EBRD is providing its first corporate loan in local currency to the Azerbaijani company METAK. The funds, the manat equivalent of €8 million, will support the company’s expansion plans.

"The EBRD loan will support METAK’s expansion in response to growing market demand, helping to strengthen the company’s position and develop its competitiveness. METAK plans to increase its production capacity by expanding to the cities of Sumgait and Balakhany, which will include the construction of a brand new manufacturing facility," the message says.

Founded in 1997 as a trading company, METAK successfully moved into production and has become one of the leading companies in steel and plastic pipes in Azerbaijan.

 

Keywords: METAK EBRD