International Bank of Azerbaijan finances construction of large establishment in UAE - PHOTO

<b>International Bank of Azerbaijan finances construction of large establishment in UAE</b> - <font color=red>PHOTO</font>
# 14 June 2012 14:39 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. In the Emirate of Fujairah of United Arabian Emirates, the International Bank of Azerbaijan has financed the construction project of the largest weaving factory in the Near East. According to bank, chairman of Bank’s Administrative Personnel Jahangir Hajiyev, ruler of Emirate of Fujairah Sheikh Hamad bin Mohammed Al Sharqi, Emirate’s Minister of Industry and Economy Sheikh Saleh bin Mohammed Al Sharqi, Chairman of Fujairah Free Zone Authority Sheikh Saif bin Hamad Al Sharqi participated in the opening of the factory.

Worth of the factory is $ 60 mln. Annual production capacity makes 10,000 tons, number of staffs – 225. The factory was supplied with the German equipments. The products to be produced in the establishment will be exported to European and Asian countries. Besides,
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