A Shareholders' Agreement was signed between "Azerbaijan Investment Company" (AIC) OJSC and "Hell Energy" company of Hungary.
According to the agreement, the construction of a new plant, based on advanced technologies with an annual production capacity of 700 million aluminum beverage cans is planned in the Alat Free Economic Zone.
At the event, Minister of Economy of the Republic of Azerbaijan, Mr. Mikayil Jabbarov noted that the project will contribute to the strengthening of cooperation between the business circles of two countries, the continuous growth of the non-oil sector in Azerbaijan, local production and the provision of employment. It was emphasized that Azerbaijan-Hungary relations, based on mutual respect, are developing on a rising line, economic and trade cooperation is expanding. It was noted that there are great prospects for the development of cooperation with Hungary in trade, industry, energy, including renewable energy, investment and other directions. The Minister of Economy stated that the opportunities of the Alat Free Economic Zone open wide opportunities for local and foreign investors, including Hungarian investors, and expressed confidence that new joint projects will be implemented.
Mr. Valeh Alasgarov, Chairman of the Board of Alat Free Economic Zone Authority participated at the event and informed the participants about the project.
A video about the presentation of the project was shown at the event.