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EBRD helps "Crystal Water" to provide safe drinking water to Tajikistan and Central Asia
To increase the availability of safe drinking water for the Tajik population, the European Bank for Reconstruction and Development (EBRD), has extended US$ 5.2 million (EUR 4.8 million) in debt and equity to a newly established company, Obi Zulol (translated as "crystal water"). The project supports the development of Tajikistan’s private sector and will help to improve the company’s technological and management know-how.
Obi Zulol is in the process of establishing a US$ 12.6 million bottled water and soft drinks plant in the Khujand region in the northern part of Tajikistan. Water will be drawn from an underground source, purified and finally bottled for supply primarily to Tajikistan but also elsewhere in Central Asia. A range of flavoured soft drinks will also be produced. The project is expected to result in the creation of approximately 150 new jobs. The facility is being constructed by SASIB of Italy, which has long-standing experience of implementing similar projects in a number of countries, including in the Commonwealth of Independent States (CIS).
Kazuya Murakami, Director of the EBRD’s Central Asia Team, said: "Through its sales in Tajikistan and planned exports across Central Asia, Obi Zulol will improve the availability of safe drinking water in a region where it is often in short supply." Hans Christian Jacobsen, Director of the EBRD’s Agribusiness Team, added: "This is the latest in a series of water and soft drinks bottling projects in which the Bank has participated. Our experience shows that this sort of project can have a positive impact in countries in the early stages of transition, such as Tajikistan."
Shareholders in Obi Zulol include Consolidated Export Corporation (a British Virgin Island registered company), Zafarabad (a Tajik company) and Aqua International Partners L.P., a US$ 300 million global investment fund that targets private equity investments in companies in the water sector in the emerging markets.
Rustam Boltaev, Chairman of the Board of Directors of Obi Zulol, said: "Obi Zulol will be the first company in Tajikistan to produce bottled drinking water and soft drinks to international standards of quality and hygiene. We are looking forward to seeing Obi Zulol products on sale in Tajik shops and markets later this year." Baktior Khudinoazarov, President of Zafarabad, said: "We are grateful to the EBRD for the confidence that they have shown in Tajikistan and the management and shareholders of Obi Zulol by supporting this project. We are looking forward to developing future projects with the Bank."
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