EBRD provides financial support to Azerbaijani soft drink producer

The European Bank for Reconstruction and Development (EBRD) assigned a loan of $2.5 million to Taj Aqua Vita, one of the biggest water and soft drink producers in Azerbaijan and the owner of popular brands Aqua Vita and Gulustan, to help it increase its production capacity and improve operating efficiency, the EBRD reported on Wednesday.

The EBRD loan will be used for the financing of part of the company’s program of capital costs and for the purchase of new modern bottling lines. The new equipment will be used for the production of plastic bottles and will help the company at least double its existing production capacity and rationalize operations.

"With these investments, the EBRD provides support to Aqua Vita to implement its capital costs strategy. This project is a continuation of our partnership with Aqua Vita, which has been displaying its adherence to implementation of international management standards for many years", said Francis Delay, Chief of the EBRD Baku Office.

Established in 1997, Taj is a local water and soft drink producer. It is one of the few companies in Azerbaijan operating in conformity with the international quality standards. For its products, the facility uses water sources based in Khudat, 200 kilometers north of Baku.

The EBRD has so far invested $1.6 billion in the economy of Azerbaijan. In 2010, the EBRD and Azerbaijan signed agreements on 13 projects with the combined value of $76.7 million.


/Trend/