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Azerbaijan's Sumgayit Chemical Industrial Park registers new resident

Business Materials 28 July 2020 14:55
Azerbaijan's Sumgayit Chemical Industrial Park registers new resident

BAKU, Azerbaijan, July 28

By Fidan Babayeva – Trend:

Azerbaijan's Sumgayit Chemical Industrial Park registered a new resident, which is Glassica CJSC, Trend reports referring to the country's Ministry of Economy.

“In line with the successful industrialization policy pursued in the country, Sumgayit Chemical Industrial Park continues to create new industries, organize the production of competitive, import-substituting and export-oriented new products and attract investors to the park,” the source said. "As of now, the number of residents of the industrial park has reached 22.”

Glassica CJSC plans to build a plant for the production of various colored glass containers (bottles) in an industrial park using technologies from HORN Glass Industries AG, which has 125 years of experience in German glass technology.

"The investment cost of the project is over 20 million manat [$11.7 million]. The company will create about 70 jobs," the source stressed.

The source also noted that in addition to, the company’s products will both meet the needs of the domestic market, and will be exported to foreign countries under the Made in Azerbaijan brand.

(1 USD = 1.7 manat on July 28)

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Follow the author on Twitter: @Fidan_Babaeva

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