Azerbaijan's Sumgayit Chemical-Industrial Park Resident Hits Jackpot
Date
11/28/2024 1:07:57 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 28. The wheels of
progress are turning swiftly in the realm of production, and the
sails of export are catching the winds of opportunity for offerings
of ALCO LLC, a resident of Sumgayit Chemical Industrial Park under
the management of the Economic Zones Development Agency (İZİA),
Trend reports.
The facility generated products valued at 83 million manat
($48.8 million) in the first nine months of 2023, representing a 27
percent increase to 105.5 million manat ($62.03 million) in the
same period of the current year.
Products created at the plant were sold to over 40 countries
around the world under the Made in Azerbaijan brand.
At present, the enterprise has rolled out 178 permanent jobs,
thanks to a hefty investment of $15 million in the pot.
To note, "ALCO" LLC is engaged in the production of lubricating
oils and liquids, chemical additives.
The Sumgayit Chemical Industrial Park was founded by a decree
from the President of the Republic of Azerbaijan on December 21,
2011. Situated in Sumgayit, 32.5 kilometers from Baku, it
encompasses 505.64 ha. The master plan of the Industrial Park
stipulates that the Industrial Zone shall encompass agrochemicals,
medicinal chemistry, home chemicals, construction chemistry,
electronics and automotive industry chemistry, polymers, and
industrial equipment manufacturing.
MENAFN28112024000187011040ID1108934702
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.