An investment agreement was signed between AIC and "Balkhoorma" LLC

According to the agreement, up to 100 new jobs will be created

An investment agreement was signed between "Azerbaijan Investment Company" OJSC (AIC) and "Balkhoorma" LLC. According to the agreement, AIC plans to invest 4 mln. AZN in “Balkhoorma” LLC in order to increase the production volume of a fruit drying line. After the investment, production capacity of the enterprise is expected to increase from 200 tons to 600 tons per year. The total cost of the project is 16 mln AZN where AIC’s share will make 25%. On average the project will create up to 100 new jobs.

The dry fruits production plant known by the "Balkhoorma" brand, located in the Balakan region, has been operating since 2016. The plant belonging to "Balkhoorma" LLC is equipped with technical equipment manufactured in Italy, Korea and Turkey. The enterprise has production lines such as washing, peeling, cooling and packaging that meet modern standards. In addition to being sold in the local market, the manufactured products are exported to Germany, the Netherlands, Lithuania, Belarus, Russia, Ukraine, Malaysia, the UAE and Japan under the "Made in Azerbaijan" brand.

Note: "Azerbaijan Investment Company" Open Joint Stock Company was established by the Presidential Decree "On Additional Measures to Promote Investment Activity" dated March 30, 2006. From mid-2020, AIC has developed a new investment policy and a new development strategy for the company, and its internal structure has been improved. Work is underway to strengthen and optimize the investment portfolio, as well as to improve investment rules and procedures.