First lax loan allocated for construction of 10,500 ton cool-house in Azerbaijan
Azerbaijan, Baku, June 30 / Trend N. Ismayilova /
The National Fund for Entrepreneurship Support under the Azerbaijani ministry of Economic Development allocated over 75 loans in the amount of 3.7 million manat to entrepreneurs of Salyan region on June 30, the ministry said on June 30. Realization of these projects via lax loans by promoting creation of more than 250 new jobs.
Roughly 960,000 manat was allocated to expand assortment of polymer goods produced in the plant of Salyan Plastik Kutle Emali situated in Salyan region. Loan was given via authorized loan organization at preferential terms. Funds will be directed to create production plots and purchase of necessary modern equipment for making different kinds of doors and windows with PVC profile (with 2, 3, 5 and more cameras). The plant will produce 2,500 tons PVC profiles per year. Over 50 new jobs are planned to create at Salyan Plastik Kutle Emali equipped with modern technologies.
Entrepreneur Nizami Huseynov got lax loan in the amount of 1.5 million manat during the meeting. Total cost of the project hits 6 million manat.
These funds will be directed to accelerate construction of cool-house. Roughly 10,500 tons of products (tomatoes, cucumber and grape) grown in Chuhanli village of Salyan region can be kept there. Total area of cool-house hits 2,250 square meters.
Roughly 60 percent of perishable agricultural goods will be sold on domestic market but 40 percent - on foreign markets.
Realization of the project will promote creation of over 50 new jobs.
The Azerbaijani ministry of economic development announced tender for construction of cool-houses. Capacity of these cool-houses hits 2,000 tons. Proposals will be voiced on July 17. But realization of this project was launched earlier. So, the National Fund for Entrepreneurship Support considered and approved financing of entrepreneur's proposals, the ministry said.
The National Fund gave loans in the amount of 44.6 million manat via authorized loan organizations within 6 months of 2009. Over 770 entrepreneurs got loans at preferential terms within this period. Financing of projects via lax loans will promote creation of over 3,400 new jobs. Roughly 74 million manat was allocated from state budget to finance entrepreneurship in 2009.
Training Preparation and appreciation of investment projects was held in Salyan. Projects were submitted by entrepreneurs to get lax loans owing to funds of the national fund. Over 250 entrepreneurs from Salyan region participated in the training dedicated to appreciation of investment projects submitted by entrepreneurs, procedure of business-plans designing and order of lax loans use.
On June 30, the official exchange rate is 0.8041 manat to $1.Do you have any feedback? Contact our journalist at [email protected]