Azerbaijan, Baku, Sept.17 / Trend N. Ismayilova /
The Azerbaijani National Entrepreneurship Support Fund (NESF) under the Azerbaijani Economic Development Ministry approved 20 proposals as part of tender on establishment of storage complexes for storage and peeling of grain crops in six economic regions. The storage facilities should be built on the basis of modern technologies and with a capacity of 10,000 tons each, Executive Director of the Fund, Shirzad Abdullayev said during the unseal of tender bids on Sept. 17.
The fund approved the financing for 9 investment projects in Aran economic region, two in the Nagorno-Shirvan, two in the Ganja-Kazakh, two in Lankaran, two in Sheki-Zagatala and 3 in the Upper Karabakh, Abdullayev added.
The total cost of the approved projects is about 38.5 million manat and the fund will finance 17.6 million manat of the total cost. Under the terms of the competition, at least 30 percent of the investment projects should be funded through the entrepreneur's own funds. In case of necessity the Azerbaijan Investment Company or its subsidiaries may participate in the financing.
The fund was guided in its choice by the significant investment projects, as well as by the volume of grain production in the administrative region," Abdullayev said.
According to Abdullayev, the grain production in the Aran region amounted to 560,000 tons, so the greatest number of selected projects falls on the area.
Earlier, the Azerbaijani National Entrepreneurship Support Fund (NESF) under the Azerbaijani Economic Development Ministry received 26 proposals as part of tender on establishment of storage complexes for storage and peeling of grain crops in six economic regions. The Fund received 12 proposals from the enterprises of the Aran economic region, two from the Nagorno-Shirvan, three from the Ganja-Kazakh, two-Lankaran, four from Sheki-Zagatala and 3 from the Upper Karabakh, Abdullayev added.
The cost of investment proposals received by the fund varies from 1.3 to 2.7 million manat, of which it is offered to draw funding from the NFES in the range from 650,000 to one million manat.
In 2008, about 89.5 percent of the total 2.3 million tons of grain produced in the country fell to these six regions. According to forecasts, in 2009 grain production will hit 2884.4 million tons.
On Sept. 17, the official exchange rate is 0.8032 manat to $1.
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