Azerbaijani Investment Company Ready to Invest in Establishing Fruit Corporation

Business Materials 16 April 2008 17:29 (UTC +04:00)

Azerbaijan, Baku, 16 April / Trend corr. I.Khalilova / The Azerbaijani Investment Company (AIC) has expressed its readiness to participate in establishment of the Fruit Corporation in Azerbaijan, Emil Aliyev, Director of Azerbaijani Export and Investment Promoting Fund (AZPROMO), stated. AIC's share in the project has not been specified yet.

AIC will become the first investor in the corporation. There are plans to draw foreign investors to develop the corporation in the future.

AZPROMO proposed to unite efforts of juice manufacturers and vegetable enterprises to develop this sphere in the country. According to Aliyev, four companies demonstrated their interest to participate in the project. Aliyev will not announce the names of the companies until they will sign memorandum, which is scheduled in the end of April.

The project was entirely supported by all the manufacturers. However, they want to get acquainted with the corporation and research process over fruits held by the international research group by AZPROMO's order.

Aliyev stated that companies can unite in the corporation through transforming certain capacities, which will affect their share and independent functioning.

Corporation will represent local juice manufacturers in the foreign markets, as well as help in producing the product that will meet the international standards under one brand.

There are 13 small-scale and big-scale fruit manufacturers in the country, with 40 homemade. Almost most canneries and dairy, as well as the meat enterprises produce juice.

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