Azerbaijan selects investment projects to develop small and medium enterprises for fruit processing

Azerbaijan, Baku, July 20 / Trend I.Khalilova /

The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development Ministry has announced tender to receive investment projects on establishment of small and medium enterprises for the fruit processing or their reconstruction through the introduction of modern technologies.

Based on the fund's studies, it will be possible to complete replacement of imports in the near future due to domestic production. NFES Executive Director Shirzad Abdullayev said the country also import fruits, canned and dried fruit products

The total production of fruits amounted to 850,600 tons in the country in 2009,, but the volume of harvest may drop due to weather conditions this year.

Abdullayev said the fund developed a sample business plan for the effective implementation of projects in the field of small and medium enterprises on fruit processing for the first time. According to business plan, such a project can be implemented for 327,000 manat with the acquisition of equipment for 165,000 manat, machines - 17,000 manat, implementation of construction and renovation and infrastructure works - 120,000 manat, unforeseen expenses - 10,000 manat and working capital - 20,000 manat. Return on such a project is two years.

The processed products are designed not only to ensure the needs of the local market, but with appropriate packaging for export to Russia, Ukraine and European countries.

Production of one ton of finished product costs about 430 manat, packaging - 110 manat and net profit of one ton - 1,000 manat, Abdullayev added.

The competition projects are accepted from all economic regions of the country (except Baku). Based on the fund's terms, at least 40 percent of the value of the investment project should be financed by the business entity, and the rest - the fund's preferential loans. The Azerbaijan Investment Company or its subsidiary also may participate in financing an investment project on the basis of relevant agreement.

Entrepreneurs first should apply to the authorized credit organizations for funding and, after receiving a positive decision on funding, to submit projects to the NFES until 18:00 Sept. 20, 2010.

The packages will be unsealed at 12.00 Sept.21, 2010. The fund will announce about the decisions at 12.00 Oct. 5, 2010.

For more information please contact: (012) 433-63-66, (055) 227-01-36, (055) 229-29-99, (055) 227-01-30.
Fax: (012) 433-63-68. e-mail: [email protected]

Do you have any feedback? Contact our journalist at: [email protected]

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