Azerbaijan has put forward a range of pioneering investment initiatives for its recently liberated territories, aiming to revitalize regions that have endured prolonged occupation, Azernews reports.
Day: June 28, 2024
Azerbaijan has put forward a range of pioneering investment initiatives for its recently liberated territories, aiming to revitalise regions that have endured prolonged occupation, according to Azerbaijan in Focus, reporting Azernews.
Among these ventures is a leading project to establish a modern facility producing decorative porcelain kitchenware. This state-of-the-art plant, estimated at 25 million manats (around $14.7 million), is projected to manufacture an impressive 18 million units annually.
Another significant proposal involves the construction of a sanitary ware manufacturing facility with an investment of 20 million manats ($11.8 million). This initiative addresses a critical shortfall in Azerbaijan’s domestic market, where currently all sanitary ware is imported. In 2022 alone, imports totaled $20 million.
Additionally, there is a proposal for setting up a production facility for personal hygiene products. This project, located in the Aghdam Industrial Park, aims to utilize local raw materials to meet domestic demand. It is anticipated that local production will cover the demand for kaolin (kaolinite) clay, limestone, quartz sand, and red clay, while imports will be necessary for feldspar, dyes, and other substances. The estimated cost of this project is 17 million manats.
The post Azerbaijan unveils ambitious investment plans for liberated territories appeared first on Azerbaijan In Focus.
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