BAKU, Azerbaijan, Sept. 2
By Zeyni Jafarov – Trend:
Novus Plastica LLC has become the 24th resident of the Sumgayit Chemical Industrial Park, the Azerbaijani Ministry of Economy told Trend.
“The enterprise with an investment value worth 11 million manats ($6.5 million) will provide more than 100 people with permanent jobs while the manufactured products will be supplied to both domestic and foreign markets under the "Made in Azerbaijan" brand," the ministry said.
Novus Plastica will build an enterprise for the production of black and blue carbon concentrate for polyethylene pipes and polymer composite materials on the territory of the industrial park. German and Japanese technologies will be introduced here.
From the moment of its foundation up till now, the investments in the Sumgayit Chemical Industrial Park have amounted to about $3 billion. The investments worth more than $245 million are expected to be made in the projects of the Sumgayit Chemical Industrial Park in the future.
"The Sumgayit Chemical Industrial Park continues to create favorable conditions for ensuring sustainable development of the non-oil sector in Azerbaijan, creating new jobs in the country and supporting entrepreneurship,” the ministry added.
“In general, the products worth over 1.9 billion manats ($1.1 billion) were sold in the industrial park, 32 percent of which were exported," the ministry stated
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