The Sumgait technological park’s cable plant has started trial manufacture of high voltage cables with the voltage 500 KW, reported STP.
“The plant is equipped with German equipment and until now it manufactured cables with the voltage of 10, 35, 110 and 220 KV. First time in the history of Azerbaijan’s industry the plant has started manufacture of high voltage cables 5000 KV,” reads the STP information quoting Director of the plant Adygezal Rakhmanov.
Currently high voltage cables are manufactured on a trial basis and we have already produced 1 km cable with 500 KV voltage.
“The next stage is to obtain certificate of compliance of the product to the European standards and its sale at the market,” said Director.—0—
Economics
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
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