OMM Redaksiyası
A groundbreaking ceremony for a production facility under the Textile Cluster project of Textile Horizon LLC was held online on Sept. 26 at the Mingachevir Industrial Park, with President Ilham Aliyev attending the event from the Congress Center in Baku.
“Operative Information Center-OMM” reports that President Ilham Aliyev, Azersugar LLC Board Chairman Nasib Islamzade and Global Textile Group Chairman Muzaffar Razakov pressed the button marking the online groundbreaking ceremony for the facility.
Textile Horizon LLC, which was granted resident status at the Mingachevir Industrial Park last year, was founded by Azersugar LLC, Global Textile LLC and the Azerbaijan-Uzbekistan Investment Fund. The project envisages production ranging from cotton cultivation to ginned cotton, yarn, fabric and finished textile products. The facility will benefit from all tax and customs incentives provided to residents of the Mingachevir Industrial Park. The 11.2-hectare facility is expected to produce 16,000 tons of ginned cotton, 11,000 tons of yarn, 7,300 tons of dyed fabric and 11 million shirts annually. The products are planned for both the domestic and export markets.
***
A small hydropower plant named Minkand was inaugurated online on Sept. 26 in Lachin district, with President Ilham Aliyev attending the ceremony from the Congress Center in Baku.
President Ilham Aliyev and Yildirim Demiroren, president of Türkiye’s Demiroren Holding, pressed the button marking the online opening of the plant.
The Azerbaijani government is implementing large-scale measures under President Ilham Aliyev’s leadership to realize the green energy potential of the liberated territories. In this regard, the project to rehabilitate, construct and operate small hydropower plants in Kalbajar and Lachin is of particular importance. The Minkand Small Hydropower Plant, included in the project, has an installed capacity of 3.2 megawatts and is expected to generate 11.8 million kilowatt-hours of electricity annually. The plant was built using Austrian and Italian technologies.
The project covering the rehabilitation, construction and long-term operation of small hydropower plants in Kalbajar and Lachin is being implemented under the First State Program on the Great Return and based on public-private partnership principles. With a total cost of 53.2 million manats, the project includes the Minkand, Galaca-1, Galaca-2, Malibey and Tartar-1 small hydropower plants. The other plants are scheduled to become operational by the end of 2026. Their operational lifespan is 30 years. The project’s total installed capacity will be 12.9 megawatts, while expected annual electricity generation will reach 44.1 million kilowatt-hours. Incentives and exemptions designated for the liberated territories have been applied to the project, and a preferential loan was provided by the Azerbaijan Business Development Fund under the Ministry of Economy.
Demiroren Holding and the Azerbaijan Business Development Fund hold stakes in Green Karabakh Energy LLC, which operates the project.
