BAKU, Azerbaijan, Feb. 12
By Matanat Nasibova – Trend:
Azerbaijan’s Sumgayit Technological Park (STP) plans to conclude several contracts this year with foreign partners for the export of industrial products of its residents, a source in STP told Trend.
“The matter rests in the export of cable products,” the source added. "This year it is planned to conclude an agreement with foreign partners in Central Asia. Three contracts worth $7 million are planned to be signed with a Kazakh company."
STP plans to greatly expand the supply of products of its plants in the future, said the source.
Previously, STP’s plant produced cables with a voltage of 10, 35, 110, 220 kV.
STP has begun to produce cables with a voltage of 500 kV since 2016 for the first time in the history of Azerbaijan’s industry.
The Sumgayit Technological Park, commissioned in December 2009, is a complex of big plants specializing in various fields of production.
Being a unique project in the region, STP fully meets the demand in the domestic market and is able to export a sufficient volume of products to the foreign market.
Currently, STP residents are 12 plants and more than 30 production sites provided with the latest European and Japanese technological equipment. Some 2,000 people work there.
STP has been provided with modern German equipment.
The STP establishment is aimed at the implementation of big infrastructure projects in the Azerbaijani industrial sector.