New residents in Azerbaijan’s Balakhani Industrial Park

New residents in Azerbaijan’s Balakhani Industrial Park

BAKU, Azerbaijan, Sept. 23

Trend:

Eight more residents will start to operate in the Balakhani Industrial Park, Trend reports citing the Azerbaijani Ministry of Economy.

Currently, there are 19 residents, 11 of which are already working. Residents have invested over 40 million manat ($23 million) in the park. Taking into account the interests of entrepreneurs, the territory of the park was expanded up to 10.1 hectares.

The residents of the park are exempted from profit tax, land tax and property tax for 10 years. The imported machinery, technological equipment and devices are exempt from VAT for 10 years and from import duty for seven years.

The resident of the park, "AzEkol" Ltd is engaged in the production of plastic shavings as a result of recycling plastic bottles. The annual production capacity is 2,400 tons.

Another resident of the park, Ekokat LLC, is engaged in processing of used engine oils. One million manat ($588,235) was invested in the enterprise, the annual production capacity is 3,000 tons.

While using paper waste, another resident of the industrial park, private entrepreneur Etibar Eminov produces printing products. The total amount of investments is one million manat ($588,235). The annual production capacity is 350 tons.

METAK LLC is engaged in recycling of plastic waste, producing various packaging products from plastic and also recycles waste paper. The investments worth 18.7 million manat ($11 million) were made into the enterprise, the annual production capacity is 12,000 tons of plastic products and 1.1 million pieces of cardboard containers.

"FORIELLA" LLC operates in the field of furniture manufacturing. Investments worth 4 million manat ($2.3 million) were made into the enterprise. The enterprise is capable of producing 100,000 chairs and 10,000 tables per year.

Another resident - "Bioropean" LLC is engaged in production of raw materials for biodiesel as a result of recycling of the used edible oils. The investment cost of the enterprise is 500,000 manat ($294,117), the annual production capacity is 2,300 tons.

Alphapack Azerbaijan LLC, as a resident of the park, produces adhesive tape. The investment made in the company amounted to 800,000 manat ($470,588), the annual production capacity is five million square meters of adhesive tape.

"Ata Park" LLC is engaged in the production of containers and labels. The investment amount is 2.8 million manat ($1.6 million), the annual production capacity is 1,950 tons.

Another resident of the park, Oreon Commerce LLC, produces and recycles sandwich panels made of magnesium oxide. The investment cost of the project was 1 million manat ($588,235), the annual production capacity - 450,000 panels.

Az Ekol LLC, Foriella LLC and Bioropean LLC export their products to several countries.

Eight more residents of the Balakhani Industrial Park will launch their activity soon.

Subscribe to Trend in Google News! Subscribe
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms  2,036 more COVID-19 cases, 1,045 recoveries
Azerbaijan confirms 2,036 more COVID-19 cases, 1,045 recoveries
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan shares data on number of vaccinated citizens
Loading Bars
Latest
Saudi Arabia's Energy Minister says OPEC will not change its strategy
Hurricane Rick edges closer to Mexican coast north of Acapulco
Israeli-led research reveals plant mechanism for dealing with water shortage
Chronicles of Victory: President Ilham Aliyev announces that Gubadli city is freed from occupation on October 25, 2020
Chronicles of Victory: President Ilham Aliyev gave interview to US Fox News TV channel on October 25, 2020 (PHOTO/VIDEO)
Chronicles of Victory: October 25, 2020
116 illegal migrants rescued off Libyan coast
Azerbaijani Navy officers successfully completes internship in Turkey (PHOTO)
Military training session to be held in military unit of Azerbaijani MoD
At least 25, including minors, died in illegal refinery blast in Nigeria
Iran’s RCS receives 30th batch of COVID-19 vaccine
Mandatory vaccination issue to be solved in November, NCDC Head says
Some 16.03 million voters cast their votes in the presidential elections in Uzbekistan
Tug fights container fire on cargo ship off British Columbia
Tokayev arrives in Ashgabat for state visit
Voting in presidential elections in Uzbekistan ends
Growth of Uzbekistan’s real GDP makes almost 7% over 9 months
No mandatory vaccination in Georgia, PM vows
Uz-Kor Gas Chemical opens tender to attract services for int'l goods transport
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 2,036 more COVID-19 cases, 1,045 recoveries
Azerbaijan's executive power in Aghdam opens tender for road overhaul
Inflation rate in Iran increases
Renewable energy dev't envisioned in Azerbaijan's national priorities - minister (PHOTOS/VIDEO)
UK says substantial differences remain with EU over Northern Ireland trade
Israel, UAE sign 'green corridor' agreement for vaccinated passengers - Israeli consulate in Dubai
Turkmenistan to connect grids of its Akhal, Balkan regions with new high-voltage line
Iran reveals COVID-19 data for October 24
Relations between Iran and Azerbaijan to continue based on mutual respect - Iranian FM
Kazakhstan boosts revenues from transporting cargo by air
Azerbaijan sees rise in total assets of local banks in September 2021
Georgia reports 3,436 coronavirus cases, 4,483 recoveries, 43 deaths
Azerbaijani MoD publishes video on events that took place last year this week (VIDEO)
Uzbekistan's CEC talks voters turnout as of 11.00
Total value of mortgage loans issued by Azerbaijani banks up in 9M2021
Prices of potatoes change in Uzbekistan
First VP Mehriban Aliyeva shares photo from visit to Zangilan with President Ilham Aliyev (PHOTO)
Daily COVID-19 case count at 1,677 in Kazakhstan
96 new positive cases of coronavirus detected in Kyrgyzstan
Azerbaijani banks increase issuance of consumer loans
Presidential elections kick off in Uzbekistan
Cargo ship on fire, spewing toxic gas off Canada’s Pacific coast: Officials
Tesla hikes price of Model X, Model S variants by $5,000
IRICA shares data on import of COVID-19 vaccine to Iran
Japan keen to invest in restoration of Azerbaijan's liberated lands
1,677 more COVID-19 cases reported in Kazakhstan
1 dead, 7 injured in shooting at off-campus party near Georgia university
Tesla posts a $1.62 billion profit in Q3 despite difficult car market
198 illegal migrants rescued off Libyan coast
10 envoys to be declared persona non grata: Erdogan
UN's Guterres welcomes Saudi Arabia's climate initiatives in call with King Salman
Presidential elections to be held in Uzbekistan
UK says substantial differences remain with EU over N.Ireland trade
New migrant caravan in Mexico pushes past blockade to head north
Aramco aims for net zero emissions from operations by 2050, CEO says
U.S. administers nearly 413 mln doses of COVID-19 vaccines
Chronicles of Victory: Azerbaijani president gives interview to Le Figaro newspaper on October 24, 2020 (PHOTO/VIDEO)
Chronicles of Victory: October 24, 2020
Buy/sell operations at Iran Mercantile Exchange growing
Iran unveils details of its trade turnover via Astara customs
Putin invites Israeli prime minister to visit St. Petersburg
Iran's Energy Exchange announces products to be on sale on October 24
Turkmenistan launches production of new types of paving slabs
Azerbaijani banks ramp up business lending since early 2021
Georgia and Ukraine talk cooperation within European integration
Iran reveals COVID-19 data for October 23
UK records another 44,985 new coronavirus cases
Tactical-Special Exercises of Azerbaijani Special Forces end (VIDEO)
First Vice-President Mehriban Aliyeva shared photos from Aghali village of Zangilan district on her official Instagram page (PHOTO)
Azerbaijani, Iranian FMs talk recent relations developments
Members of Nizami Ganjavi International Center join call towards cop26
Arayik Harutyunyan's visit to Russia is solely private - embassy of Azerbaijan
NATO not ready for equal dialogue with Moscow - Russian defence chief
Saudi-led coalition says destroys Houthi vessels, bomb-laden boats site
Kazakhstan updates forecast for completion of grain harvesting
IRENEX shares data on sales of Sepahan Oil Company in energy exchange
EIB to help reduce COVID-19 effects on Georgian SMEs
Moscow comments on reports about holding Russia-Armenia-Azerbaijan summit on Nov.2021
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 2,315 more COVID-19 cases, 981 recoveries
First Vice-President Mehriban Aliyeva shared footage from Zangilan visit on her Instagram page (VIDEO)
Turkmenistan to participate in EXPO-2025
Georgia and Ukraine sign protocol on economic cooperation
Weekly review of key events in Azerbaijan's ICT sector
Azerbaijan's liberated lands to contribute to expansion of TRACECA corridor - minister
Weekly review of main events in Azerbaijan's transport sector
Saudi Arabia targets net zero emissions by 2060
Russia registers an all-time high of 37,678 coronavirus cases in past day
Uzbekistan eyes foreign technology for better local polymer production
Turkmen delegation to pay working visit to Iran
Azerbaijan records growth in loan portfolio of local banks in 9M2021
Turkmenistan’s Turkmenbashi refinery eyes producing hydrogen
Azerbaijan, Singapore to co-op in construction of geostationary satellites
IRICA shares data on Iran's trade turnover with SCO member states
Iran sees increase in exports of non-oil products from Hormozgan Province
Weekly review of Azerbaijani precious metals market
Kazakhstan unveils trade indicators with its TOP-3 EU partners
Turkmenistan approves new procedure for allocating investments from Stabilization Fund
Azerbaijani MoD observes exercises in liberated Lachin district (VIDEO)
Russian Health Ministry greenlights joint COVID-19 and flu vaccination
All news