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Investments in industrial parks of Azerbaijan reach $2.6B

Business Materials 30 July 2018 11:13 (UTC +04:00)
The total investment in five industrial parks in the territory of Azerbaijan amounts to $2.6 billion.
Investments in industrial parks of Azerbaijan reach $2.6B

Baku, Azerbaijan, July 30

By Ilkin Shafiyev - Trend:

The total investment in five industrial parks in Azerbaijan has amounted to $2.6 billion, Nazim Talibov, Director General of the Sumgayit Chemical Industrial Park, said July 28 in Baku during the event entitled as "Organization of the production chain from raw materials to final products".

He noted that, it is planned to create in the future an additional 7,500 new jobs at the expense of industrial parks.

"It was expected in 2011 that, about 10,000 people will be employed in industrial parks. This figure is 11,000 today. An additional 7,500 new jobs will be created in industrial parks in the future," Talibov said.

Speaking about the activities of the Sumgayit Chemical-Industrial Park led by him, Talibov noted that currently the volume of investments in the park amounts to about $2 billion, while this figure was $860 million at the initial stage.

"The industrial park employs today about 8,000 people, despite the fact that this figure amounted to several hundred at the initial stage. The turnover of the industrial park is growing every year. While this figure amounted to 24 million manats in 2015, it equaled to 140 million manats in 2017. We expect this year a turnover at the level of about 200 million manats," Talibov said.

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