The Azerbaijan State News Agency

ECONOMY

AZKOMPOZIT WINS INVESTMENT CONTEST

According to the State Committee for State Property Management, Azkompozit company became a winner of the investment contest for purchasing Sumgait Senaye Istehsal joint-stock company.

In accordance with the agreement signed with the committee and investment program, the firm will invest 15.9 million AZN for three years to start producing fibre optic reinforced pipes in Azerbaijan. Realization of the investment program will result in creation of 200 new jobs. At the same time, the agreement envisages gradual increase in salaries, improvement of working conditions and other actions.

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