Baku, Fineko/abc.az. On January 21, agreement was signed by the Azerbaijan Investment Company (АIC) with foreign investors Marcin International (Virgin Islands) and MYBA Agro Projects (Israel) on setting up of joint venture AzAgroExport LLC.
Executive director of AIK Afgan Isayev said that AzAgroExport LLC was set up to implement the project on creation of packing and sorting workshops, refrigerator warehouses and greenhouses in Khacmaz district.
«Overall cost of the project makes $29.5 million. Share of participation of AIC and Marcin International in the project totals by 36.5 % respectively (investments in the amount of $10.7 million each), and share of MYBA Agro Projects is 27 % (the investment in the amount of $8 million). Implementation of the project will enable raising $18.8 million of investments into Azerbaijani economics,” A. Isayev said.
In accordance with the project, 1,4 million of seedling, 6,000 tons of vegetables (3,500 tons of tomatoes and 2,500 tons of pepper) will be raised in the complex over the year.
“Main part of the production (75-85%) will be exported,” A. Isayev said.
21.01.2010 16:19
- Azerbaijan may refuse from sweet butter import
- Non-bank credit organizations excluded from state leasing program
- Azerbaijan and Hungary to hold business forum on ecological agriculture in second six months of 2010
- Azerbaijan raised export of fruits and vegetables by 6%
- This January Azerbaijan increased cotton export - 367044% against January 2009
- In January Azerbaijani farming sector’s production fails by 34 % by December 2009
- Meat production drops by 7% in Azerbaijan in January
- BP and partners give new grant for development of village of Ujar district of Azerbaijan
- Today Azerbaijan begins next bird flu monitoring
- Azerbaijan Salt to launch production in first six months of 2010
Link for FINEKO Analytic & Informational Agency and ABC.AZ is obliged using the websites material.
