Azerbaijan, Baku, Jan. 11 / Trend N. Ismayilova /
The National Entrepreneurship Support Fund, under the Azerbaijani Ministry of Economic Development, has supported the development of Gadabey region by financing the projects in agriculture, the ministry said.
The National Fund has allocated 4.7 million manat to finance two investment projects. The cost of a project for the production of mineral water and lemonade with a capacity of 12.8 million liters per year is 2.8 million manat. The second project on creating a refrigeration warehouse, with a capacity of 10,000 tons and production area for processing 10 tons of milk and 10 tons of potatoes every day, is estimated to be 4.1 million manat.
Roughly, 100 new jobs will be created by implementing these projects.
The talks were held with representatives of local executive power and entrepreneurs to more effectively use the available economic capacity within the meeting on "State support of entrepreneurship in the regions of the country" in 2010.
As a result, the following priorities for economic development in Gadabey regions were determined: the construction of cold storage facilities for potatoes with a capacity of 5,000 tons, the construction or reconstruction of the plant producing water (natural, sugared, mineral and aerated) with an annual capacity of 500,000 liters meeting the international standards, the construction of the processing facility with a minimum capacity of 1,000 tons of meat and 10 tons of milk a year, processing of potatoes into small and medium volumes (cleaning, packaging, potato flour, potato chips and other products), the enterprise for bread production with capacity of 15,000-20,000 tons per year meeting modern standards, creation of an enterprise for fruit processing (canning and drying) in medium and small volumes with a capacity of 1,000 tons per year, corresponding to modern requirements, bee-keeping (including industrial processing and packaging of honey) and the establishment of seed farms for the development of potatoes.
The official exchange rate is 0.7976 manat to $1.