Huseyin Cicek

ADA-Group

•The Project "ADA" had started in September, 2005, with the aim of establishing a modern retail commodity chain in Baku. •In short time, the team of experts with experience of project management and retail sales was established. •In January, 2006 the strategic business-plan of development considering opening 50 modern markets under "ALMALI" brand in Baku city, and construction of a modern Distribution Center in Khirdalan settlement by 2009, was adopted. •According to business-plan in 2009, quantity of newly created jobs only in "ALMALI" chain not including related sectors will exceed 2000. Currently company's personnel consist of more than 1500 employees. •In regard to the size of investments made in the non-oil sector and positive impact on the economy of Azerbaijan, the project "ADA" sets an example of the importance of the non-oil sector. • More than 50,000,000 USD from various sources have been invested towards the success and growth of the company. •In November 2006, the Board of Directors of the International Financial Corporation (IFC) made a decision to finance the project with 18 million US dollars for the development of the chain, including a 6,000,000 USD equity investment. • In 2008, the Black Sea Trade and Development bank made a decision to lend the amount of $ 9,5 million for the further expansion of the company. •The first market of the chain was opened on 90, Babek Avenue, on October 28th, 2006. At present, 40 chain markets are being operated. Along with Azerbaijan's capital Baku, "Almali" supermarket chain is also operating in major cities of Azerbaijan such as Ganja and Sumgayit.