Foundation laid for malted barley processing plant in Azerbaijan’s Imishli - UPDATE

Azerbaijan Investment Company OJSC under the Economy Ministry will own 24% of the shares, Azersheker LLC and Azersun Holding LLC will each own 38% of the shares of the malted barley processing plant under construction in Azerbaijan’s Imishli district, Chairman of the Azersheker Board Anar Mehdiyev said, Report informs.

He noted that the plant, which will be built according to Swiss technology, will be the first such enterprise in the South Caucasus, and its products will meet modern global standards.

“Georgia is the largest consumer of the malted barley in the region - about 25,000 tons per year. We are focused on the Georgian market. In addition, there is a large market in the countries of Central Asia and the Middle East. Even before the launch of the plant, we had already received applications from Iraq and Afghanistan. With the commissioning of the enterprise, we will consider all export opportunities. But meeting domestic demand remains the main priority,” he said.

The foundation of a new enterprise - a malted barley processing plant - has been laid in Azerbaijan’s Imishli district, Report informs.

The goal of the project is to create a value chain in the production of beer in Azerbaijan.

The new enterprise will be built with the participation of the Azerbaijan Investment Company OJSC under the Economy Ministry on the territory of the Imishli sugar factory. Here, 11,000 tons of malted barley will be processed at the initial stage and at the next stage this figure will reach 17,000 tons.

The plant will fully meet the needs of Azerbaijani beer producers in raw materials.

At the enterprise with an investment value of 25 million manats ($14.705 million), 50 people will be provided with permanent jobs. The opening of the plant will help reduce the cost of importing malted barley, equal to $10 million.