Total production of industrial enterprises of Azerbaijan amounted $8.9bn in 2005, showing a 33.5% from the level of 2004. Volume of oil production in 2005 totaled 22.2 mln tons, which is a 64-year record, Trend reports with reference to words of Natik Aliyev, head of Department of Industry and Power Engineering of Azerbaijan (DIPE), said April 12 during his speech at the conference titled В"Role of Sumgayits enterprises in creation of strong industrial capacitiesВ".
Quoting his words, volume of oil production will total 30.5 mln ton in 2006. В"$15bn of investments have already been made in Azerbaijans oil sector. This year BTC pipeline will be put in operation. Operations on gas supply to Turkey are 94% completeВ", - he said.
Head of DIPE said at the moment some operations are performed in Sumgayit in order to recover industrial enterprises and supply them with power and gas. В"However, we still encounter some serious problems. In particular, the problem is in their structure and incomplete utilization of their capacity, as well as insufficient investments in provision of the countrys internal market with productionВ", - he said.
Quoting Mr Aliyev, Sumgayits base is chemical facilities. State Enterprise Azerkimya was established in 1992. В"However, since then no new facility has been constructed. Many enterprises stop operating and fall unable to compete with othersВ", - he said.
According to DIPE figures, 2,439 industrial enterprises are currently operating in Azerbaijan, 758 of them governmental-based and 1,681 private-owned.
Vagif Aliyev, Head of Executive Power of Sumgayit, said in his speech that enterprises of light and heavy, chemical and power engineering industry are currently operating in Sumgayit. В"However, despite the fact that previously percentage of Sumgayits enterprises in overall industry totaled 22%, is has decreased to 3.5% to dateВ", - he said.