EBRD allocates 8 million euros in loan to Azerbaijani company

Kanan Sadigov
Author

The European Bank for Reconstruction and Development (EBRD) has approved a loan of up to 8 million euros to Azerbaijan's Gemza Group LLC, Report informs, citing the EBRD.

The loan will enable the group to expand local production capacity, manufacture more complex spare parts, and widen the range of maintenance, repair and overhaul services. It will also allow Gemza to carry out ongoing and pipeline projects.

Gemza Group LLC, together with its sister companies, supplies rotating equipment, manufactures spare parts and provides repair, maintenance and overhaul services for the rotating equipment (pumps and valves), in Azerbaijan, CIS Region, UAE and Turkey.

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