Azerbaijani firm sends 47M AZN worth of pipes to Turkmenistan
Baku, Azerbaijan, Oct. 28
By Azad Hasanli – Trend:
Azerbaijan’s Azertexnolayn LLC supplied 47 million manats worth of pipes to Turkmenistan (1.6381 AZN/USD on Oct. 28) since early 2016, Nazim Talibov, director of the Sumgayit Chemical Industrial Park, said.
Talibov made remarks at a meeting with Azerbaijani MPs in Baku.
Azertexnolayn, a resident of the Sumgayit Chemical Industrial Park, signed a contract for the supply of pile pipes to Turkmenistan in January 2016 for construction of the Turkmenbashi sea port. The cost of the contract is $40 million.
Another contract worth $20 million envisages the supply of pipes for the replacement of water pipes.
“The company also exports its products to Georgia and Russia,” Talibov added. “Seven cars carrying pipes will be sent to Kazakhstan in the near future.”
“Azerbaijan and Kazakhstan have already agreed on a price, but first, the Kazakh side wants to check the quality of the pipes,” he said. “We hope this agreement will be successful."
Talibov added that currently, Azertexnolayn’s three enterprises operate in the territory of the Sumgayit Chemical Industrial Park, namely, a plant for production of steel pipes, a plant for production of polyethylene items and a plant for production of hydraulic equipment.
The Sumgayit Chemical Industrial Park was established in 2011. Currently, nine residents operate in the park. The total amount of investments to be made in the park by the residents will reach $1.1 billion.
Residents of industrial parks in Azerbaijan have a number of preferences, including exemption from income tax, land tax and property tax for seven years.
The equipment imported by the residents is not subject to value added tax and customs duties.