Azerbaijan, Baku, Nov. 24 / Trend /
Representatives of the East Capital Swedish investment fund will arrive in Baku in late November, the ADA Group said today.
"The main purpose of the visit is to explore possibilities of cooperation with the ADA Group," the source said.
The attractiveness of the food industry, as well as the prospects of the Almali supermarkets in Azerbaijan, have increased the Swedish fund's interest in the project.
East Capital is a shareholder of the Populi supermarkets in Tbilisi.
The ADA holds a network of Almali supermarkets in three major Azerbaijan cities (Baku, Sumgayit and Ganja). The International Finance Corporation is the main ADA Group shareholder.
The project's total cost is $50 million. The Black Sea Trade and Development Bank provided the ADA Group with a $9-million loan in late 2008.
Almali is a major International Finance Corporation project in the non-oil sector in Azerbaijan. The first Almali supermarket opened in 2006.
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