Roughly 12,000 units of agricultural machinery imported in Azerbaijan through state leasing company

Business Materials 18 July 2011 16:27 (UTC +04:00)

Azerbaijan, Baku, July 18 / Trend A.Akhundov /

About 11,823 units of agricultural machinery have been imported in Azerbaijan through the state leasing company Aqrolizing since 2005, Chairman of the Aqrolizing Board Ali Bayramov said, the official press reported.

"Some 990 combine harvesters, 3,306 tractors, 160 excavators and 7,367 units of equipment for different purposes were purchased and put into operation during this period," Bayramov said.

He said 147 combine harvesters, 2,090 tractors, 81 excavators and unit 4,051 trailer equipment were leased or sold by leasing.

"As a result, the technical provision of agricultural producers improved and the volume of agricultural services and quality increased," Bayramov said.

He said the company has more than 20 types of services on favorable terms.

"Our services are many times cheaper than services provided by other entrepreneurs," he added.

JSC Agrolizing was established in Oct. 2004. It has branches in 19 regions of Azerbaijan and five new branches will be put into operation by late 2011.
Bayramov said earlier that construction of the agricultural services will further continue and leadto an increase in food production.

The state budget annually allocated an average of 35 million manat to the company.
The Azerbaijani Cabinet of Ministers has recently amended the terms of lease for farm machinery and processing equipment through the state leasing company Agrolizing.

According to the new conditions, legal and physical entities, who lease agricultural machinery and technological equipment from Agrolizing, must pay 10 percent of their value in the form of payment and the rest would be paid for nine years, after the entities start to make payments a year after the prepayment.