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Time-frame for launching packaging process at joint Azerbaijani-Russian plant disclosed

Business Materials 22 January 2019 20:44 (UTC +04:00)
The medicine packaging process will be launched at the joint Azerbaijani-Russian plant in Azerbaijan’s Pirallahi Industrial Park in the first quarter of 2019, Azerbaijani Minister of Economy Shahin Mustafayev said on Jan. 22.
Time-frame for launching packaging process at joint Azerbaijani-Russian plant disclosed

Time-frame for launching packaging process at joint Azerbaijani-Russian plant in Baku disclosed

Baku, Azerbaijan, Jan. 22

By Azad Hasanli – Trend:

The medicine packaging process will be launched at the joint Azerbaijani-Russian plant in Azerbaijan’s Pirallahi Industrial Park in the first quarter of 2019, Azerbaijani Minister of Economy Shahin Mustafayev said on Jan. 22.

Mustafayev made the remarks in Baku at an expanded meeting of the board of the Azerbaijani Ministry of Economy, Trend reports.

“The enterprises for the production of various pharmaceutical products worth $100 million are being constructed in the Pirallahi Industrial Park,” he said.

Besides the Azerbaijani-Russian plant, a syringe production plant is expected to open in the first quarter of the year. The products of the plant will be supplied not only to domestic market, but also to the foreign markets.

“Another resident - Absheron Saffron Ltd, which will process saffron and produce various saffron products, will appear in the Pirallahi Industrial Park this month,” he said. “Fifty new jobs will be created there.”

The Pirallahi Industrial Park was established upon the Azerbaijani president’s order in September 2016. Investors have been exempt from various taxes and customs duties for seven years in the Pirallahi Industrial Park, as in other industrial parks.

Five residents operate in the Pirallahi Industrial Park, namely, IFFA company, the manufacturer of baby diapers, Hayat Pharm (joint Azerbaijani-Russian company), Diamed Co, Caspian Pharmed (joint Azerbaijani-Iranian company).

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