The Hungarian soft drink manufacturer Hell Energy will build a new plant in Azerbaijan with an investment of around US$211 million, with the cooperation of a local investment fund.
The Minister of Foreign Affairs and Trade, Péter Szijjártó, in Baku confirmed that the Hell Energy Group has reportedly sealed an agreement with an Azerbaijani investment company to implement the project.
The plant is expected to be completed in 2025. Specifically, it will produce between 700 and 800 million cans per year and will have the capacity to fill between 350 and 400 million of them.
The plant to be built in the Alat Free Economic Zone as part of the project was originally intended to produce and fill between 300 and 400 million aluminum beverage cans per year. The project will help attract foreign investment to the country, acquire advanced technological expertise, replace imports and increase the potential for exporting finished products to other countries.
Hell Energy recorded an increase in revenues of more than 50% during the past year, of which approximately two-thirds was generated by exports.
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