AZERBAIJAN: Water firm Gedebey Mineral Sulari gets EUR4.6m loan for expansion
Azerbaijan bottled water producer Gedebey Mineral Sulari is set to boost its operations after securing a EUR4.6m (US$6.1m) loan from the European Bank for Reconstruction and Development (EBRD).
The funds will be used to buy new equipment to increase the company’s production capacity, EBRD said in a statement on its website late last week. The money will also help improve the bottled water firm's labelling and packaging to international standards.
Gedebey’s CEO, Ilham Aliyev said: “The EBRD loan will be applied for the second phase of our strategy to increase local penetration of premium bottled water and grow our exports abroad.”
The private company, established in 2010, produces “premium” local water brands Slavyanka and Gedebey in Azerbaijan.
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