Azerbaijan, Baku /corr. Trend I.Khalilova / The Executive Director of Azerbaijan Investment Company (AIC), Anar Akhundov, said that AIC expects to receive a business plan on construction of an insulin plant in Azerbaijan. According to him, the work on the business plan is completing. AIC negotiated with British company with regards to the development of the business plan, but Akhundov refused to call the company.
"The companies supplying the ingredients and final products must be large enough to efficiently produce for a population of more than 50mln people. We hope to produce the final product and at the same time acquire ingredients from more prospective companies. Financing of the construction plant will be provided and the main issue will be to ensure excellent quality and full certification from European countries," the head of AIC said.
It will be necessary to analyze the market, e.g. its situation, demand and the general international state, all of which could cause a delay in realizing the project. As there are no insulin plants in Georgia and Kazakhstan, this could be a priority for Azerbaijan.
"We expect our partners to indicate the export potential of this project and for this reason we hope the production will be certified in different countries, as well as in the foreign market," Akhundov added. Initially AIC held negotiations with Danish 'Novo-Nordisk' company.
The requirement to solve the problem of the shortage of insulin at a state level rose due to the rapidly increasing demand of this medicine in the country. The implementation of the project will fulfill the need of the drug at the expense of domestically-produced high-quality insulin, as well as creating the possibility to export this medicine. The project is estimated at nearly $15 mln.