Azerbaijan, Baku, Nov. 2 / Trend J. Nasibova /
Construction of modernized plant on production of equipment for food industry and greenhouse structures was launched in Bina settlement of Baku.This was stated by the Ministry of Economic Development on Friday.
Within the event, held on Friday by the National Fund for Entrepreneurship Support (NFES) under the Ministry of Economic Development, a soft loan in the amount of 3.4 million manat was allocated to fund the project.
The automated production lines of Italian Salvagini company and the Turkish Hidrotam Makina company will be installed at the plant for manufacturing of equipment for the food industry and greenhouse structures.
The plant is the first facility of this kind in Azerbaijan and will include two production buildings and ancillary areas.
The completion of construction is scheduled for September 2013. Some 80 jobs are planned to be created within the project.
The total cost of the project is 8.6 million manat, with six million manat to be met through NFES loans.
The official exchange rate on November 2 is 0,7849 AZN / USD.