In line with allocation of loans to a number of facilities in Baku settlements, The National Fund for Entrepreneurship Support of the Ministry of Economic Development provides the financing of projects, presented in direction of establishment of new industrial enterprises. 

CEO of the Fund Shirzad Abdullayev says one of these projects is the transformer factory, to be constructed in Garachukhur and Hovsan settlements of Baku: “Total cost of this project is AZN 40 mln. There is need for AZN 5 mln in initial stage. AZN 3 mln of it has today already been allocated and another part will be given in the coming months”.

Abdullayev said that within the framework of this project, the plant will produce high-voltage transformers, as well as substations. 

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