On Wednesday (23 March) Azerbaijani President Ilham Aliyev took part in an opening ceremony of a sugar factory in Imishli district, east Azerbaijan. It comes as the first enterprise of its kind in Azerbaijan and the biggest in the region.
The head of state stated that the construction and commissioning of the factory indicates to the speedy pace of reforms in the sphere of economy. The opening of the enterprise will promote economic progress of the region, in particular in the sphere of agriculture.
Aliyev announced that the enterprise provided with advanced equipment will fully cover the domestic demand in sugar. If earlier the oil sector was regarded as the most attractive sphere for investing, today the investments are put for non-oil sector.
Abdulbari Gozel, the President of Azerzun holding, said that the factory where $87m was invested will manufacture 900 tons of sugar a day. Further it is planned to expand production the production capacity to 1,500 tons a day and it is planned to spend $15m in this respect.
At present the enterprise employs approximately 1,500 people, while the production of raw material will involve around 150,000 people.