A New Glass Plant with Chinese Capital to Be Built in Azerbaijan

Business Materials 20 December 2006 11:24 (UTC +04:00)

A joint venture between Azerbaijan and China will be established on the glass production, Trendreports.

Natik Aliyev, Azerbaijan Minister for Industry and Energy, said on December 19 that the Sumgayit Glass Plant and a Chinese company had reached an agreement on the establishment of a new glass plant.

The total budget of the project is $12mln. Chinese investments comprise of $6mln. Khazar, a shareholder of the existing glass plant in Sumgayit, will invest the same amount. The Minister did not exclude the state participation in the project.