Chinese to Invest $140 mln in Dirsi Founder AS Group Investment's Agro Project

On February 6, AS Group Investment and the Chinese company China CAMC Engineering Co., Ltd, the largest developer company in the South Caucasus, signed a Memorandum of Cooperation, according to which the Chinese company will invest $140 million in the project ‘Absheron Agro Park,’ a project of AS Group Investment.

Mr. Shaheen Movsumov, Founder of AS Group Investment, and President of China CAMCE Co., President Luo Jané, jointly signed the Memorandum.

Within the framework of the Silk Road Forum in Beijing, China, Kazakhstan, Azerbaijan, Georgia and Turkey, the founder of AS Group Investment held an important meeting with China's largest national company China National Machinery Industry Corporation Ltd (SINOMACH) represented by Liu Jin Zang, during which future cooperation between the companies was planned.

The "Absheron Agro Park" is a large project which will be implemented in Azerbaijan, Kazakhstan and Georgia. The Agro Park in Azerbaijan is to be spread across 150 hectares of land. At this stage, strawberries and tomatoes are being grown in greenhouses, equipped with modern technologies, on 10 hectares of land. 3500 people will be employed as a result of the fully operational Agro Park. Products produced in the Agro Park are intended for both domestic consumers and export.

In 2018, the agriculture direction was prioritized by the Azerbaijani state and this project is expected to contribute to the development of the Azerbaijani agro sector.