An investment promotion document was submitted to our "Promalt" project
An investment promotion document was presented to the Promalt barley processing plant, which is currently being established with the joint investment of "Azersheker" LLC, "Azersun Agricultural Products" LLC and Azerbaijan Investment Company, at "Baku SMB House".
Entrepreneurs who have received an investment promotion certificate are exempted from tax of 50 percent of profit and income, property and land tax, as well as from VAT and customs duty for the import of their imported machinery, technological equipment and facilities for a period of 7 years.
It should be noted that our "Promalt" barley processing enterprise will carry out its first processing in 2024. The enterprise will be the first plant in this field in the South Caucasus region. In order to create a value chain in beer production in Azerbaijan, on August 8 of last year, the foundation of our new enterprise - brewing barley processing plant was laid in Imishli. The enterprise built on the territory of the Imishli Sugar Factory belonging to "Azersun Holding" is realized with the joint investment of "Azersheker" LLC, "Azersun Agricultural Products" LLC and Azerbaijan Investment Company. The plant, which will initially process 11,000 tons of beer barley (malt) per year, and 17,000 tons at the later stage, will fully meet the raw material needs of the largest beer producer in Azerbaijan, the "Carlsberg Azerbaijan" brewery, as well as the producers operating in our country. 50 people will be provided with permanent jobs in our enterprise, the investment of which will be 25 million manats. With the start of operation of the plant, imports of this product will be prevented and more than 10 million dollars will remain in our country. More than 510 tons of feed additives will be available at the plant. As part of the project, a silo complex with a capacity of 12,000 tons will be built to store the plant's raw materials, and "Azersheker" LLC will plant barley, sugar beet, and food wheat on 10,000 ha in the territory of Aghjabedi, Imishli, and Fuzuli regions.