The Azerbaijani-Kyrgyz Development Fund and Orion Grand LLC signed an investment agreement to finance a project to establish a modern carpet manufacturing plant in Kyrgyzstan. The press service of the Ministry of Economy and Commerce of the Kyrgyz Republic reported.
This is the first project of its kind in the Kyrgyz Republic. Currently, carpet flooring is entirely imported into the country.
The project will:
- Establish local carpet production and partially replace imports;
- Create new jobs;
- Strengthen the country’s industrial potential.
The total cost of the project is $3.2 million. Financing from the Azerbaijani-Kyrgyz Development Fund will amount to $1 million.
The production is targeted not only for the domestic market of Kyrgyzstan but also for export to Uzbekistan, Tajikistan, Azerbaijan, and other countries.
