BAKU: Azerbaijani Investment Company OJSC will acquire a 25-percent stake in the logistics center built by the Azerbaijani Azersun Holding in Aktau (west Kazakhstan), said the minister of economy and industry of Azerbaijani Shahin Mustafayev said during the presentation of the center.
“The construction of the logistics center in Aktau has been already completed, and since December it begins to receive food and agricultural products for storage,” the minister said.
Mustafayev said the logistics center will allow Azerbaijani entrepreneurs to expand export opportunities and distribute their products to other countries.
The logistics center is located in an area of 8,730 square meters.
“Creation of a logistics center in Kazakh Aktau will greatly facilitate access to the markets of the Customs Union countries for Azerbaijani exporters,” said the deputy chairman of the State Customs Committee (SCC) of Azerbaijan Shahin Bagirov.
He said that the SCC is working on simplification of customs procedures for export of agricultural products in general and by the ferries in particular.
“The State Customs Committee also continues to work on the introduction of the electronic payment system of customs duties, synchronization of customs documentation with the international one, bringing the documents into a single form given the multimodal transport,” Bagirov said.
Chairman of the Supervisory Board of Azersun Holding Group of Companies Abdulbari Guzel said during the presentation that it is assumed that the logistics center will pay back the funds invested in its construction during 10 years.
At the first stage, $20 million were allocated for the construction of the center, but in the future the volume of investments may increase. The holding itself will manage the logistics center and distribute the products in the future.
Azersun Holding, Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and “Special Economic Zone ‘Seaport Aktau’ JSC signed a memorandum of understanding on the construction of a logistics center in August 2013.
Azersun Holding LLC was established in 1992. The areas of Holding’s activity are processing and packing of tea, vegetable oil, trade and distribution, construction, banking, insurance, production of cardboard and paper items, meat and vegetables and transport and storage of goods.
