Agreement on a construction of a plant for the production of infusion solutions was signed between Azerbaijan Investment Company OJSC (AIC) and Diamed Development Group LLC.
Founded in 1999, Diamed Development Group LLC, specializes in the production and sales of medical supplies in the field of healthcare and has a staff of 115 people.
Diamed Development Group LLC and AIC started negotiations on the project in 2020. Project’s main aim is to build a plant for production of the infusion solutions mainly used in parenteral therapy to complete and maintain water and electrolyte balance in the human body and ensure optimal metabolism.
The production of Sodium chloride 0.9%, Ringer's Lactate and Glucose 5% is planned within the framework of the project.
AIC’s decision to finance the construction of the mentioned plant was proceeded by the project’s economic efficiency and profitability, as well as its potential to reduce import dependency and support local production.
In the project, the total cost of which is 13.7 million AZN, AIC’s share makes 20%. The enterprise which will be located in Pirallahi district will create 100 new jobs and will annually produce 20 million infusion products.
Note: Azerbaijan Investment Company OJSC was established by the Decree of the President of the Republic of Azerbaijan On Additional Measures for the Promotion of Investment Activity dated March 30, 2006. The main goal of AIC is to make short-term investments in commercial enterprises of Azerbaijan, as well as to promote the development of the non-oil sector at its own expense and by attracting other investors.