IBA finances construction of largest textile plant in Middle East

The International Bank of Azerbaijan has financed the construction of Middle East`s largest textile factory in the Emirate of Fujairah of United Arabian Emirates.

Chairman of the Bank`s Board Jahangir Hajiyev, Ruler of the Emirate of Fujairah Sheikh Hamad bin Mohammed Al Sharqi, Emirate’s Minister of Industry and Economy Sheikh Saleh bin Mohammed Al Sharqi, Chairman of Fujairah Free Zone Authority Sheikh Saif bin Hamad Al Sharqi participated in the opening of the factory.

The factory’s construction budget is $ 60 mln. The factory with the annual production capacity of 10,000 tons will employ 225 people. The factory was provided with the German equipment. The goods to be produced in the factory will be exported to European and Asian countries.
 

/AzerTAc/