Azerbaijan, Baku, Apr. 3 / Trend N.Ismayilova /
The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development Ministry has received five investment projects from business entities to establish small and medium enterprises for the processing of grapes to meet current requirements under the state program to ensure reliability of population with food for 2008-2015, NFES Executive Director Shirzad Abdullayev said today.
"Two proposals received from entrepreneurs of the Aran region and one from the Ganja-Gazakh, Guba-Khachmaz and Sheki-Zagatala regions, and the projects' cost varies from 1.4 to 8 million manat," he said. The fund's share in financing of the projects may be from 700,000 to 5 million manat.
The NFES will launch the initial monitoring of these projects, the study of existing infrastructure in enterprises and potential of employers next week, he added.
The investment competition requires the followings: investment project to create a grape processing plant must meet modern standards and it must be fitted with technology to meet modern standards, and laboratory. The area chosen for the construction of production facility must possess beneficial infrastructure.
The investment project must be implemented in the optimum time. The ongoing activities, including construction and installation work, connection to telecommunication lines, must be consistent with the certain governmental structures. At least 30 percent of the investment project should be financed by own funds of the commercial entities.
The Azerbaijan Investment Company or its subsidiaries also may finance the investment projects on the basis of agreement between the parties.
Winner of the investment competition will be announced at 12:00Apr.15, 2010
Apr. 3, the official exchange rate is 0.8034 manat to $1.
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