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Azerbaijani entrepreneurs to invest in Ingushetia

30 March 2017 15:52 (UTC+04:00)
Azerbaijani entrepreneurs to invest in Ingushetia

By Amina Nazarli

Investors from Azerbaijan will build a wholesale-food base and shops in Ingushetia, a federal subject of Russia located in the North Caucasus region.

These stores will offer customers products from a number of Middle Eastern countries under the brand of the republic. Here the prices will be 10-20 percent below the market prices.

The construction of the base for 1.500 tons of products with storage space of 2,000 square meters is expected to be launched in 2017. Here will be installed modern refrigerators with the ability to simultaneously maintain different temperature regimes.

In the coming days, the site will be determined where construction of the base will start.

During the meeting with the head of Ingushetia in Moscow, Azerbaijani investors expressed their readiness to invest in a project that will create about 70 new jobs, 150 million rubles ($2.66 million) of personal funds without attracting bank loans.

Azerbaijani investors enjoy huge experience in this direction. They have already opened wholesale and food bases in five large cities of Russia, including St. Petersburg, Moscow, Ivanovo, Novorossiysk and Pyatigorsk.

Products from Israel, Iran, Turkey and Egypt will be delivered to the republic through Gelendzhik port. To organize the supply of high-quality products and its distribution to shopping centers, which will be opened in all cities of Ingushetia and remote villages, investors will create a new company.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

Follow us on Twitter @AzerNewsAz

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