Azeri Prez opens 2 yarn production units in Mingachevir

March 16, 2018 - Azerbaijan

Azerbaijan President Ilham Aliyev recently inaugurated two yarn production plants owned by Mingachevir Tekstil LLC in Mingachevir Industrial Park. Equipment from Germany, Switzerland, Spain and Japan have been installed in the plants, constructed with funds granted by the ministry of economy. Mingachevir is the fourth-largest city in Azerbaijan.

The plants have an annual production capacity of 20,000 tons of yarn, according to a Azeri news agency report. The foundation of Mingachevir Industrial Park was laid in September 2016.

Aliyev said more than $230 billion have been invested in the country’s economy over the past 15 years and the primary goal now is to attract more investments into the non-oil sector. (DS)