BAKU, Azerbaijan, May 12. A new tobacco products manufacturing project worth 47 million manats ($27.6 million) will be launched in Azerbaijan by a new resident of the “Araz Valley Economic Zone” Industrial Park.
The data obtained by Trend from the Economic Zones Development Agency under the Ministry of Economy reveals that “Baku International Tobacco” LLC has been granted resident status in the industrial park, which is managed by the agency.
The company is expected to implement a tobacco production project within the park. In addition to supplying products to the domestic market, the company also plans to export the tobacco products manufactured under the project.
Officials said the investment value of the project amounts to 47 million manats ($27.6 million).
The “Araz Valley Economic Zone” Industrial Park currently has 20 resident business entities and 3 non-resident entrepreneurs.
To date, entrepreneurs have invested more than 48.3 million manats ($28.4 million) in projects carried out within the industrial park, creating more than 130 jobs.
