Bank Of Baku

Azerbaijan to build the region’s largest cold storage facility

Azerbaijan to build the region’s largest cold storage facility
# 19 October 2009 16:44 (UTC +04:00)
Baku. Nijat Mustafayev - APA-ECONOMICS. The Caspian International Investment Company (CIIC), established by the Azerbaijan Investment Company (AIC) and Islamic Corporation for Development (ICD), has taken an about 36% stake in the construction of a cold storage complex in Samukh region.

CIIC executive director Togrul Kocharli said the storage facility will be the largest in the region.

"The storage facility will hold 25 000 tons of fruits and vegetables cold. The project consists of 2 phases. We have allocated AZN 2.9 million for the first phase. We will extend AZN 3.6 million for the second phase,” he added.

CIIC share in the project will be 36%.
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