On Tuesday the President Ilham Aliyev participated in the opening of a factory in the city of Sumgait for oil production under “Industrial Park Azersun.” The raw material for the factory is vegetable oil imported from Spain, Portugal, Ukraine , Argentina, and Brazil. The capacity of the factory will be 270,000 tons of oils , including corn, sunflower , margarine , melted , chocolate and mayonnaise.
It is proposed to export oil to Georgia , Iraq , Tajikistan, Kazakhstan , Turkmenistan, and others states. The factory will employ 250 people, and in the future the number of jobs will be 700.
Then Aliyev opened a factory for the production of paper and paperboard, which is also under the “Industrial Park Azersun.” Annually the plant will process about 50 tons of paper.
Ninety per cent of the raw material will be blank paper and paper waste. Thirty points will be opened for the collection and preparing paper wastes at the capacity of 60-70 tons will open all over the world. -06D-
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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