BAKU, Azerbaijan, October 24. The enterprises of the Sumgayit Chemical Industrial Park, whose opening was attended by President Ilham Aliyev, have invested over 100 million manat ($58.8 million) in the industrial park and created about 600 workplaces, Trend reports.
Reporters visited the recently launched production enterprises in Sumgayit Chemical Industrial Park, organized by the Economic Zones Development Agency of the Ministry of Economy.
The media representatives were provided with information on the general activity of the Sumgayit Chemical Industrial Park and the work done. It was noted that 38 business entities with a total investment volume of about 5.8 billion manat ($3.4 billion) have been granted resident status in the park. To date, the residents have invested more than 5.4 billion manat ($3.1 billion) in the industrial park. Residents of Sumgayit Chemical Industrial Park have already sold products totaling 9.5 billion manat ($5.5 billion), of which more than 3.3 billion manat ($1.9 billion)—about 35 percent—falls on the share of exports. The industrial park manufactured products worth 2.1 billion manat ($1.2 billion) and exported products worth 674.4 million manat or $396.7 million (32.1 percent), from January through September 2023.
Currently, more than 6,600 people are permanently employed in the Sumgayit Chemical Industrial Park. According to the existing projects, it is envisaged to invest additionally more than 394 million manat ($231.7 million) in the industrial park and create more than 2,000 permanent jobs.
It was noted that with the opening of three more enterprises (UPI (Universal Packing Industry), Azərbaycan Vanhong Ceramics Co., and Novus Plastica), more than 100 million manat ($58.8 million) have been invested in Sumgayit Chemical Industrial Park, and about 600 permanent jobs have been created.
Two enterprises - production and commercial firm Chinar-Service and "Kartash Kimya", the foundation of which was laid, are planned to invest a total of over 30 million manat ($17.6 million) in Sumgayit Chemical Industrial Park and create more than 300 permanent jobs. These enterprises are planned to be launched in 2024–2025.
Media representatives visited the ceramic tile production enterprise Azərbaycan Vanhong Ceramics Co. It was noted that the total investment value of the enterprise built on a territory of more than 20 hectares is more than 85 million manat ($49.9 million). At the enterprise, 484 people are provided with permanent jobs. Ceramic tiles (tiles, metlach) are produced at the plant.
UPI, Universal Packing Industry's enterprise for the production of packaging products, informed media representatives that the plant, with a total investment cost of over 4.8 million manat ($2.8 million), produces 20 types of products. At the initial stage, 50 people will be permanently employed at the enterprise. At the next stage, it is planned to increase the number of employees to 65.
Then the media representatives visited Novus Plastica polymer additives production enterprise, where they were informed that two types of products are manufactured at the plant built on 3.5 hectares: black carbon concentrate additives for polyethylene pipes and polyethylene coatings used in industrial packaging. Up to 50 people will be provided with permanent jobs at the enterprise, with an investment capital of over 12.1 million manat ($7.1 million).
Media representatives were also informed about the projects of other residents of Sumgayit Chemical Industrial Park.
