ECONOMY


Modern engine oil manufacturer opens in Azerbaijan

Baku, January 31, AZERTAC

First manufacturer of engine oils in Azerbaijan and Caucasus, Technol opened. Officials of the Azerbaijan Ministry of Economy, representatives of many international and local companies and media outlets attended the event. The company’s executive director Murad Rafiyev made statement to mass media at opening ceremony, told that Technol plans to export motor oils in first quarter of the year: “We have plans to enter international market as soon as we start sales in Azerbaijan market. Talks on export are underway and Technol lubricants will access foreign market in 3 months. First of all, we plan to sell our products in neighboring countries – Russia, Iran, Turkey, Georgia, then arrange exports to Central Asia and other CIS countries. European and African markets are our next targets. Export of our products will bring additional currency to the country. Notably, 100% of current motor oils in local market are imported products”.

“The company targets 200 tons daily production, which makes up about 80 tons for one year”, Rafiyev underlined. He told that the company manufactures 60 nominations of lubricants, including motor oils for passenger cars, motorcycles, transmission lubricants, industrial oil products. The enterprise employs about 50 work force.

According to him, these products will cost 50% lower than foreign lubricants.

“Our products will be competitive in terms of quality and price. The local production reduces cost of products. Talking about quality, our laboratory has been equipped with devices produced in United Kingdom, Germany, Japan. This enables to check quality of products then and there and provide better quality products to the market. We are confident in our product’s quality, as we use raw materials and ingredients produced by leading companies of the world. At the same time, let me note that leading European manufacturers of car engines – Ford, Peugeot, Citroen, Volkswagen, BMW, Mercedes-Benz, Porsche, Opel, Renault, General Motors, Volvo, IVECO, Mann and other companies endorsed quality of raw materials used in production of Technol motor oils”.

The Executive Director told that the factory has been constructed based on 100% private investment without any loans.

Speaking at the opening ceremony, head of industrial department of the Ministry of Economy Murad Abdullayev told that Technol features an outcome of state support: “Today we opened another production field in the country and manufacturer of new products entered the market. This is encouraging”.

The official told that Technol took advantage of “Document of Investment Incentives” developed by order of the President of Azerbaijan: “The company, who receives “Document of Investment Incentives” is exempt of VAT and customs charges for imported equipment”.

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