According to the contract signed between Azerbaijan Investment Company OJSC, under the Ministry of Economy, and Hell Energy company, a new factory with an annual production capacity of 700 million aluminum beverage cans will be put into use next year in the territory of the Alat Free Economic Zone, Azernews reports.

It was announced at the 10th meeting of the Azerbaijan-Hungary Intergovernmental Commission held in Baku.

According to the document, in the territory of the Alat Free Economic Zone, the new factory based on the advanced technologies of European countries will produce 415 million aluminum beverage cans with an annual filling capacity at the initial stage.

More than 300 jobs are planned to be created within the project. The investment cost of the project is $211 million.