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Azerbaijan Prepares to Construct an Industrial Town

Business Materials 9 November 2006 20:37 (UTC +04:00)

Azerbaijan is expected to launch a construction of an industrial town in April, 2007, said Samir Nuriyev, Director of the Entrepreneurship Development Department of the Azerbaijan Economic development Ministry. The German Technical Assistance Society (GTZ) has held a marketing research which, we hope, will be prepared at the end of November, this year, said Mr. Nuriyev.

He said that in mid December 2006, a full package with technical documentation on the project on construction of the first industrial town in the country will be prepared.

В"We have also discussed an issue on financing the construction of the town at the expense of the State Budget. The volume of this financing is expected to be determined in January, 2007. If such assignments are envisaged, we might launch construction works in April, said Mr. Nuriyev.

He pointed out that assigning means that the work is implemented within the Ministry's Macroeconomic Policy Department.

Today, we are awaiting technical documentation from Turkey's MA rendering its assistance in the preparation of this project. Prior to that, as far back as in 2004, within UNDO, the cost of the construction of the industrial town was estimated at $30 mln, he added.

According to him, MA Company is preparing documentation under the assistance of the Turkish International Cooperation Agency (TIKA).

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