Azerbaijan: Plant Commissioning By End 2007

Asker Mamedov, deputy chairman of the board of the International Bank of Azerbaijan (IBA), said the Azershusha glass plant to which the Black Sea Trade & Development Bank has lent EUR 5M will be commissioned before the end of 2007. The project is also financed by the Islamic Development Bank (US$5M) and Qaradaq Rezin Qarisigi (EUR 5M). The total project cost is EUR 15.5M.