German AZ-BEHV to Expand Activity in Construction Sector in Azerbaijan

Business Materials 17 May 2008 12:00 (UTC +04:00)

Azerbaijan, Baku, 16 May /corr. Trend I.Khalilova / The German investors are willing to expand their participation in the construction market of Azerbaijan, said the Director General of AZ-BEHV, Albert Saks, who arrived in Baku as part of delegation attending Azerbaijani-Bavarian economic forum.

Up to now, the Company invested in establishment of two enterprises in Azerbaijan - AzSaks Beton Ltd, concrete and construction producing company, and AZSaks CST Ltd, construction equipment and installation selling company. Saks expects that their payback will be obtained throughout 3-5 years and it depends on increase in demand for the construction production of the concrete plant.

The plant commenced its activity with a capacity of 5-10,000 cu.m of concrete per month, but there are plans to increase it up to 300,000 cu.m per year.

"The rates of economic development in the Country and realization of large-scale projects due to oil revenues caused our interest in producing German construction materials in Azerbaijan," the Company's Head said.

Partnership relations have already been established with Altes Group, Mega City Holding, STS Holding, MTK Holding. Orders are received for bridge construction within the State bridge and crossing construction program as well as Italian company Todini which deals with the construction of Baku-Samur road.

AZ-BEHV made a suggestion to establish an Academy on Concrete Technologies in order to improve qualification of the employees of the concrete plants in Azerbaijan. According to Saks, seminars will be organized for them. It is possible to expand representations of this structure in Baku, Guba and other cities.

This week, the German investors discussed these plans and establishment of new construction enterprises during the meeting in Executive Power of Sumgayt.

AZ-BEHV invests 100% German capital in the projects.

The official exchange rate on16 May was 0.8274 AZN/USD.

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