Azerbaijan lays foundation for malted barley processing plant in Imishli

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

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

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. Some 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.

Speaking at the groundbreaking ceremony of the plant, Azersheker Board Chairman Anar Mehdiyev said that Azerbaijan Investment Company OJSC under the Economy Ministry will own 24 per cent of the shares, Azersheker LLC and Azersun Holding LLC will each own 38 per cent of the shares of the malted barley processing plant.

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 beer in the region - about 25 million 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.