Lebanese firm wins Azeri chicken privatization
Azerbaijan's state property ministry announced Friday that Lebanon's Ruby Rose Group SALR had won a tender for a 18.5-million-dollar Siyazan chicken factory, located some 100 kilometers (60 miles) north of the capital.
The three-year, 35-million-dollar investment project requires the Lebanese company to transfer $1.5 million to the state budget, pay off debts of $2.8 million and guarantee work for some 500 employees.
The factory, in operation since 1985, is the largest in the former Soviet republic of eight million people and produces annually some 17,000 tones of chicken meat, 300 million eggs and 100,000 tones of grain products. — (AFP)
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com)