Equipment, materials and other goods for production of local cement plant during entrance to Azerbaijan will be exempt from value added tax.
Decision of the Cabinet of Ministers signed yesterday is related to imported products, which contributes to quality construction of the enterprise, which will make backfill cement for wells and clinker (interim products during cement production).
The decision will enter into force on August 19 and it will be effective till January 1, 2014. By another decision the Cabinet of Ministers exempt equipment, materials and other products for production of local cement plant during entrance to Azerbaijan from customs duties.
Construction of Gyzyldash Cement plant started in Azerbaijan in March 2012. The contract for construction of the enterprise, which will be able to make 5,000 tons of clinker a day and 2 million tons of cement a year, was signed a year ago between Azerbaijan Norm LLC company and the consortium comprised of China Triumph International Engineering Co. Ltd (CITEC) and Japanese Mitsubishi Corporation.
The construction cement will be up to the American Petroleum Institute (API) standard.-0-
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