Two new enterprises to come online in South Caucasus’ largest industrial park in 2024-2025
Reducing reliance on imports

ECONOMICS  24 October 2023 - 15:54

Two enterprises, the ground for which was broken by President Ilham Aliyev on October 23, will become operational at the Sumgayit Chemical Industrial Park in Azerbaijan in the next two years.

The technical gas production enterprise owned by the “Chinar-Service” Production Commercial Company and the construction chemicals production enterprise owned by “Kartash Kimya” Company will showcase the first end products in 2024-2025, said Elshad Nuriyev, Chairman of the Board of the Agency for the Development of Economic Zones under the Ministry of Economy of Azerbaijan  

Nuriyev noted that the enterprises are expected to invest more than 30 million manats ($17.6 million) in the Sumgayit Chemical Industrial Park and create more than 300 permanent jobs.

According to him, 38 business entities with a total investment of 5.8 billion manats ($3.4 billion) have been granted residency status in the top-notch park since its inception in 2011.

"More than 5.4 billion manats [$3.2 billion] have been invested in the industrial park so far. 23 out of 38 registered residents are already operational. So far, residents of Sumgayit Chemical Industrial Park have sold products worth a total of 9.5 billion manats [$5.6 billion], of which exports account for more than 3.3 billion manats [$1.9 billion] or approximately 34.7%," Marja.az quotes Nuriyev as saying.

He added that the residents of the Sumgait Chemical Industrial Park churned our products worth 2.1 billion manats ($1.2 billion) in January-September of 2023, generating 674.4 million manats ($396 million) from their exports.

“More than 6,600 people are currently employed in Sumgayit Chemical Industrial Park. Moreover, it is planned to invest more than 394 million manats ($231 million) in addition to existing projects in the park and create more than 2,000 permanent jobs,” Nuriyev noted.

The Sumgayit Chemical Industrial Park was established by a Decree of the President Aliyev dated December 21, 2011. This is the first industrial park established in Azerbaijan and the largest in the South Caucasus. The industrial park employs more than 6,600 people permanently.

The industrial park sits on a total area of 583.5 hectares. On October 23, President Aliyev commissioned the new enterprises - “Azerbaijan Vanhong Ceramics Co.” “Novus Plastica” and “UPI - Universal Packing Industry” –bringing the number of enterprises operating in the Sumgayit Chemical Industrial Park to 23.

The products manufactured in the park were exported to Türkiye, Russia, Ukraine, Belarus, China, Taiwan, Bulgaria, Romania, Poland, the Netherlands, Italy, North Macedonia, Lithuania, Austria, Estonia, Denmark, Kazakhstan, Uzbekistan, Turkmenistan, Tajikistan, Georgia, Kyrgyzstan, Brazil, Egypt, the United Arab Emirates, Lebanon, Iraq, Japan, the United States of America, Canada and other countries.

Caliber.Az