Azerbaijan plans to complete projects on establishment of cattle-breeding complexes and grape processing enterprises in autumn

Business Materials 17 June 2010 16:34 (UTC +04:00)

Azerbaijan, Baku, June 17 / Trend N. Ismayilova /

The National Fund for Entrepreneurship Support under the Azerbaijani Ministry of Economic Development expects to complete projects to build three livestock farms for dairy cattle and two small and medium enterprises for the processing of grapes by autumn this year, executive director of the foun Shirzad Abdullayev said.

"We expect that the project to create livestock farms will be fully implemented by October-November this year, and 600 head of cattle, brought through JSC Aqrolizinq, will be placed in farms. As autumn is also the time to collect grapes, it is assumed that the processing plants will begin their activity that period, he said.

He said that these projects are financed stage-by-stage. Thus, today 25-30 percent of the total amount of concessional financing was granted to entrepreneurs as advance loans.

The winners of the tender held by the fund to develop stock-breeding complexes for cattle, were agro-farm "Hagijamalxan", plant for the production of milk "Atropatena" and "Garainek" (agricultural farm). The total value of these three projects amounts to 33 million manat, of which 9.7 million manat will be provided through concessional loans of the fund.

The winners of the tender for the creation of small and medium enterprises for the processing of grapes were JSC "Goycay Konyak" and "Sultan-O". The cost of each project is estimated at 3 million manat, of which 2 million manat will be financed through the fund's loans.