Baku, Azerbaijan, April 15
By Sara Israfilbayova - Trend:
The Azerbaijani government forecasts a 10 percent expansion in the annual production of construction materials for each of the years 2019-2022, Trend reports referring to the "Market Analysis Azerbaijan 2019" publication.
Thus, output in 2022 is expected to reach $600 million, according to the report.
“The trend is noticeably upwards,” reads the report. “Production increased significantly throughout 2017 and the first three quarters of 2018 - compared with the same period of the previous year - by 50 percent and by 33 percent to $334 million and $262 million respectively. High growth rates were recorded in the cement (+22 percent to 2.6 million tons) and asphalt (+89 percent to 220,000 tons) product groups in the first nine months of 2018.”
The growth is related to the government support for the construction sector.
The report further notes about the German-Azerbaijani joint venture Deutsche Fassaden Technologien that commissioned a plant in the Balakhani settlement in Baku in May 2018.
“Currently, 50 employees work at the plant, which has an annual production capacity of 60,000 square meters,” reads the report. “The number of employees is due to rise to 200 in the future.”
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