7th resident of Azerbaijan’s chemical industrial park made public (UPDATE)

Business Materials 29 April 2016 14:44 (UTC +04:00)

Details added (first version posted on 12:01)

Baku, Azerbaijan, Apr. 29

By Anvar Mammadov - Trend:

Azerbaijan's MST Engineering LLC has become the 7th resident of the country's Sumgait Chemical Industrial Park, Zaur Mammadov, deputy CEO of SCIP, told reporters Apr. 29 in Baku.

The company will produce hydraulic trunks and fittings, said Mammadov adding that these details are widely used in oil and gas, engineering, food and other industries.

About 40 new jobs will be opened there, he noted.

He also said that the products produced by MST Engineering LLC will be exported to neighboring countries in the future.

Currently, Azerbaijan imports the above-mentioned products and in the future the country will be able to provide both the domestic market, and to export them to neighboring countries, said Mammadov.

"At the initial stage, raw material for the production of trunks and fittings will be imported, but after commissioning SOCAR Polymer plant, it will also be produced within the country," noted the deputy CEO.

Azerbaijan's President Ilham Aliyev signed a decree to create the Sumgait Chemical Industrial Park in December of 2011. The territory of Sumgait Chemical Industrial Park will be divided into two parts: administrative and social zone and industrial zone.

Overall, the Sumgait Chemical Industrial Park now includes the following residents: Azertexnolayn, SOCAR Polymer, Azerfloat, Azerbaijan Fibro Cement, SIKA company, and Baku Non-Ferrous Metals & Ferroalloys Company.

Edited by SI