BAKU, Azerbaijan, July 17. This yr, two
enterprises—Kartash Kimya LLC, which produces building
chemical compounds, and Az-Tex-Import LLC, which manufactures IVECO
vehicles—are set to start out operations within the Sumgayit Chemical
Industrial Park, Pattern stories.
On July 17, the Financial Zones Growth Company of the
Ministry of Economic system of Azerbaijan organized a familiarization go to
for media representatives to the Kartash Kimya building
chemical compounds manufacturing enterprise.
Director Najmeddin Tashbag briefed the media on the progress of
the plant’s building and its upcoming targets.
It was famous that the development works are nearing completion,
and gear set up will begin within the coming months. The
enterprise, which is able to make use of 250 folks, has an funding value of
20 million manat, or $11.76 million, with greater than 15 million
manat, or $8.8 million, already invested within the challenge.
Along with producing building chemical compounds, the plant will
manufacture waterproofing supplies and flooring merchandise for the
first time in Azerbaijan.
Kartash Kimya LLC was granted resident standing in Sumgayit
Chemical Industrial Park in 2022. The enterprise is scheduled to
launch on the finish of this yr and can play a big position in
import substitution and increasing Azerbaijan’s export
potential.
Through the occasion, media representatives have been briefed on the
general actions of the Sumgayit Chemical Industrial Park. It was
famous that this largest industrial park within the South Caucasus has
granted resident standing to 40 enterprise entities with a complete
funding quantity of 6.2 billion manat, or $3.66 billion.
At the moment, 24 enterprises are operational inside the park, and two
extra are scheduled to launch this yr. These new enterprises will
create over 300 extra jobs, with investments totaling about 40
million manat, or $23.6 million.
Up to now, over 5.5 billion manat, or $3.2 billion, has been
invested within the industrial park, ensuing within the creation of
roughly 6,800 everlasting jobs. Along with present
initiatives, there are plans to take a position 554 million manat, or $326.9
million, and create greater than 2,200 new jobs. Residents of the park
have bought merchandise value over 11.6 billion manat, or 6.8 billion,
with exports accounting for greater than 4.1 billion manat, or $2.4
billion (about 35.3 %).
Within the first half of the present yr, the Sumgayit Chemical
Industrial Park produced items value 1.3 billion manat, or $762
million, with exports totaling 455 million manat, or $268.4
million.
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