Grape processing enterprises to be built in Azerbaijan

The tender commission of the National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development selected 2 of 5 investment projects from business entities to establish small and medium enterprises for the processing of grapes, NFES Executive Director Shirzad Abdullayev said.

The commission declared OJSC "Goycay Konyak" and OOO "Sultan-O" the winners of the competition. The cost of each project is estimated at 3 million manat, of which two million manat will be financed through the NFES.

One venture will be constructed in Goychay and the second - in Shabran (formerly Deveci).

The investment competition required the followings: investment project to create a grape processing plant must meet modern standards and it must be fitted with technology to meet modern standards, and laboratory. The area chosen for the construction of production facility must possess beneficial infrastructure.

The Azerbaijan Investment Company or its subsidiaries also might finance the investment projects on the basis of agreement between the parties. However, the structure is not expected to participate in the project, Abdullayev said.


/Trend/