The Black Sea Bank for Reconstruction and Trade announced on the approval of credits for equipment of the Glass plant in Azerbaijan. The BBRT presented 5m loan for 5 years for purchase of equipment for glass plant in Baku.
The loan was given to the International Bank of Azerbaijan for further crediting a private company Caspian Management Systems LTD, which privatized the enterprise.
The estimated value of the project on equipment of the plant is 15.4m euros and it will provide to open 100 new jobs. After the upgrade the enterprise will produce 100 million bottles and glasses a year and enable to refuse from import of expensive glass bottles.
The plant located in Garadagh district of Baku will produce bottles in two designs.