Azerbaijan, Baku / corr. Trend I.Khalilova / The Minister of Economic Development of Azerbaijan, Heydar Babayev, said on 17 May that Azerbaijan Investment Company JSC and European Bank for Reconstruction and Development (EBRD) signed the first investment agreement with regards to the Milk-Pro dairy factory.
At the first stage the AIC investments will be made in the amount of AZN 4.684 mln. According to the agreement, the AIC share in the authorized capital of Milk-Pro will reach 20%.
The investment program also attended by the EBRD is aimed at constructing a new dairy processing plant in Baku and the reconstruction of the existing dairy factory of Milk-Pro in Goychay. The Hovsan district in Baku has been sited for the new dairy factory. The total investment of the project is estimated at $10.5 mln, part of which will be as joint-stock participation with Milk Pro, the other as EBRD credit investments.
Milk-Pro LLC is involved in producing milk and other dairy products, as well as natural juice.