Azerbaijan, Baku, Apr. 16 / Trend I.Khalilova /
The tender commission of the National Fund for Entrepreneurship Support (NFES) selected an investment project on baby food production, NFES Executive Director Shirzad Abdullayev said.
The Diplomat Company won the competition. The project cost is estimated at 13 million manat, of which 5 million manat will be financed through the NFES.
Abdullayev said the company is in talks with the Azerbaijan Investment Company to acquire equity in the project, as well as with the German baby food manufacturer HIPP, which will provide the technology and brand to produce baby food in Azerbaijan.
"Diplomat will be the first baby food producer in Azerbaijan," Abdullayev said.
The project implementation period is six months. With a capacity of 2,000 tons per year, the enterprise will be constructed on the Absheron Peninsula.
The investment competition required: the production of various baby foods; the area chosen for the production facility's construction must possess beneficial infrastructure; the plant must have technology meeting modern requirements and standards.