Azerbaijan Economic Development Ministry selects 8 investment projects on broiler farms

The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development Ministry has announced results of tender to set up poultry meat production, broiler farms, or their reconstruction through the introduction of modern technologies under the State Program on reliable food supply in 2008-2015.

The funs selected eight projects worth 26.9 million manat from the proposed 13 investment projects. Of the total amount 17.4 million manat will be funded through NFES. The total cost of 13 investment proposals is valued at 41 million manat, 27 million of which is expected to be funded by favorable loans of NFES.

Two of the selected projects account for the Khizi region of Azerbaijan, 3 - Absheron and one - Imishli, Salyan and Ismailli regions.

NFES Executive Director Shirzad Abdullayev said these projects will allow to produce 60 million eggs and 13 million tons of poultry meat per year. Thus, the country's domestic market's demand in chicken eggs and poultry meat will be fully guaranteed.

Abdullayev named the investment project associated with the current broiler enterprise "Ismayilli Gushchulug" which previously was on the verge of closure due to financial problems.

NFES supported "Ismayilli Gushchulug" to restore production. This plant produced 2mln eggs in 2009. According to business plan, the restoration of "Ismayilly Gushchulug" and bringing the production of eggs up to three million units per year will cost 800,000 manat, 500,000 of which will fell to NFES' loans.

"We regard poultry activities as a priority and we will continue financial support next year. A few companies intend to appeal us for financial support," Abdullayev said.

Investment proposals are accepted from all economic regions of Azerbaijan except Baku.


/Trend/