
The company Matanat - A invests in the Rostov region Russia 10 million. Euros. In its management plans include commissioning of the plant for production of dry mixes. Agreement on the project was signed by the governor of the region Vasily Golubev and CEO of Matanat-A, Elkhan Bashir at the Progress Investment Forum Sochi 2014. On the future of the company, the location of which is not yet determined, it is expected to create 200 jobs.
According to Bashirov, the Azerbaijani company intends to produce more than 1, 000 items of construction materials according to European standards. Production should start functioning one year after the allocation of land.
As the trade representative of Russia in Azerbaijan, Eldar Tlyabichev told Turan, this is not the first financial injection of local building structure in the economy of the northern neighbor - two years ago, he, as head of the Ministry of Economic Development of Karachay-Cherkessia, endorsed at the Forum Sochi -2012 construction company Matanat - A plant for gypsum production in this country.
According to Russian media, the basic direction of the investment within the Sochi forum. This housing construction and building materials, light industry, machinery, retail and recycling.
Matanat-A company founded in 2000 and is the first producer in Azerbaijan mixes cement, gypsum and other basis. Its products are exported to Russia, Kazakhstan, Georgia, Turkmenistan, Iran, Ukraine and other countries. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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