ID :
37308
Thu, 12/25/2008 - 12:13
Auther :
Shortlink :
https://oananews.org//node/37308
The shortlink copeid
EBRD LENDS $15 MILLION TO AZER-YOD TO BOOST IODINE PRODUCTION
Baku, 24 December,(AzerTAj)The European Bank for Reconstruction and Development (EBRD) has allocated a $15 million loan to Azer-Yod MMC, an iodine producer based in the south of Azerbaijan, to support the modernization and expansion of the company.
The funds will be used to finance an increase in the plant’s capacity to 500 tons of
iodine per annum through the acquisition of new equipment, the installation of an
additional production line and the repair and putting into operation of about 80
wells. The company’s long-term strategy is to become an important regional iodine
producer with the capacity to export a significant share of its production.
Francis Delaey, head of the EBRD Resident Office in Azerbaijan, said: “This project
is one of the largest investments by the EBRD in Azerbaijan with a local company. It
is fully in line with our strategy for Azerbaijan as it promotes the development of
the private non-oil sector especially in the regions of the country.”
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The funds will be used to finance an increase in the plant’s capacity to 500 tons of
iodine per annum through the acquisition of new equipment, the installation of an
additional production line and the repair and putting into operation of about 80
wells. The company’s long-term strategy is to become an important regional iodine
producer with the capacity to export a significant share of its production.
Francis Delaey, head of the EBRD Resident Office in Azerbaijan, said: “This project
is one of the largest investments by the EBRD in Azerbaijan with a local company. It
is fully in line with our strategy for Azerbaijan as it promotes the development of
the private non-oil sector especially in the regions of the country.”
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