$2.6 bn invested in industrial parks of Azerbaijan and $1.1 bn more to be invested

15:35 - 10.07.2018


July 10, Fineko/abc.az. The Ministry of Economy of Azerbaijan has reported about the favorable impact of creation of industrial parks on the growth of the country's economy.

Economy Minister Shahin Mustafayev has stated that $2.6 bn has been invested in the creation of industrial parks and about 11,000 jobs created in the construction and production to date.

"At the next stage it is planned to invest more than $1.1 bn and open about 7,500 new jobs," the minister said.

Mustafayev points out that Sumgait Chemical Industrial Park is numbering seven enterprises and seven more enterprises will be commissioned there by the end of 2018. About 400 people are working at five enterprises operating in Balakhani Industrial Park, which is important in the development of "Green economy".

At the second stage, the construction of five more production spheres will begin. The restoration of the Balakhan landfill in accord with modern environmental and sanitary standards has been completed Within the framework of the Single Solid Waste Management Project, being implemented jointly with the World Bank.

Work is underway in the Pirallahi Industrial Park on the project of a pharmaceutical enterprise and a syringe producer enterprise with the general cost of $100 million to be commissioned at the end of 2018 that along with meeting the domestic needs will also create export opportunities. The Mingachevir Industrial Park has employed 750 people at two spinning mills. Eight enterprises have started operating in the Neftchala Industrial Park. About 500 new jobs were created due to those eight enterprises and investments on them exceeded AZN 45 million.

Automobile plant "Khazar" in the Neftchala Industrial District will manufacture 10,000 motor vehicles a year. The cars will be sold in the domestic market and be exported to some foreign countries. The sale of about 100 automobiles has already started, and an order for another 200 cars has been received. Besides, the construction of the Masalli Industrial Zone has been finished, while the Hajigabul and Sabirabad Industrial Districts will be commissioned by the end of the year.

 

 

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