New lime plant to appear in Azerbaijan
By Nigar Abbasova
Matanat-A Company, one of the leaders for construction materials production in the country, is planning to build a plant for production of lime.
Elkhan Bashirov, President of Matanat-A talking to reporters mentioned that the project has already been awarded a document of the investment incentives.
“The plant will be constructed in Gazakh region. Its capacity is expected to amount to 90,000 tons per year. The construction of the plant will allow to create about 250 new work places. Initial volume of investments will be around 15 million manats ($ 9.9 million),” Bashirov added.
He further noted that the document of the investment incentives allows to save on the project realization.
“We will save about 1.8 million manats ($ 1.1) due to exemption from value added tax. It will allow the plant to run its operations with high level of efficiency. We will deliver all necessary equipment within the period of one month,” he said.
Bashirov also underlined that the generated production will partially be directed to export. “Our output will meet all necessary international requirements thus giving an opportunity for both to supply to local market and to export our production to the near abroad,” he added.
Document of the investment incentives is a new mechanism which exempts entrepreneurs from land taxes and grants discounts at the rate of 50 percent in the cases of income tax payments.
Previously Economy Minister Shahin Mustafayev mentioned that the total volume of investments for 15 projects which hold the document of the investment incentives will amount to 160 million manats ($105.8 million)
In order to obtain a certificate an entrepreneur should submit a business plan and confirm making of at least 10% of the expected project investments.
Matanat-A Company which was established in 2000 is considered to be the first manufacturer of cement- and gypsum-based products in Azerbaijan. Operating in 3 systems and 22 product groups, the company has a portfolio of more than 200 brands and about 1000 product types. Currently the company is engaged in the production of lime goods including slack lime and coating for facade.
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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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