Turkish Zorlu Holding to invest in Azerbaijan
According to Azerbaijan in Focus, reporting Turan News, on June 18, the Ministry of Economy signed a memorandum of understanding with Zorlu Holding following which the Ministry will provide all possible support to the initiatives of the Turkish Holding aimed at investing in the economy of Azerbaijan, including the textile industry.
Chairman of the Management Board of Zorlu Holding Ahmet Nazif Zorlu said at a meeting with Economy Minister Mikayil Jabbarov that the Holding intends to implement large-scale projects in priority areas of the non-oil economy of Azerbaijan.
It ought to be noted that Zorlu Textiles Group is a manufacturer of yarn and cotton home textiles. Also, the Group exports 60% of its products to 58 countries under the brands of Taç, Valeron, Linens, Pierre Cardin.
In March this year, the Turkish holding set up a subsidiary company “Zorlu Azərbaycan” in Baku headed by Omar Yungul, Chief Executive Officer of Zorlu Holding.
In February, the Azerbaijani company CTC Holding signed a protocol of intent with Zorlu Holding on cooperation in the field of agriculture, construction and textiles.