Arab Company to Invest in Azerbaijan’s Iodinated Salt Production
Azerbaijan, Baku, 30 October/ Trend , corr E. Ismayilov, I. Khalilova/ Azersun Holding is going to sign a contract to attract Arab investments in the construction of new salt iodination and refining plant in Masazir settlement of Baku, the project which costs $12mln," Abdolbari Gozal, President of Azersun Holding said.
Arab Golf Star is prepared to finance 50% of the project, Gozal said in his previous interview.
The remaining part of the finance will be provided by Azersun Holding and Azerbaijan Investment Company. AIC plans to invest some $2.9mln or 25% of capital.
The Arab investors plan to pay back their investments in three-two years after the plant is put into operation. The withdrawal from the project is possible in five years. The plant is expected to be put into operation in the third quarter of 2009. The foundation of the plant will be laid soon, Gozal said.
"Not only white salt, but also medical salt is expected to be produced," he said.
Originally, the plant was expected to manufacture 100 tons of salt a day, but it will be increased to 200 tons a day due to high demand.
The State Committee for State Property Management of Azerbaijan has allotted some 7 ha of land for the Azerbaijani Salt Production Union closed joint stock company founded by Azersun Holding and Azerbaijani Investment Company (AIC).
The plant will be built not far from Masazir lake near Baku. The salt will be collected from the section located in Masazir lake, with further deliveries from Turkmenistan for the refining in future.
The project Problems of Deficit of Iodine and Iodinated Universal Salt implemented with the support of UNICEF showed that the problem of the deficit of iodine is very urgent question.
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