Bulgarian company to invest in recycling of engine and industrial oil in Azerbaijan

The Agency for the Development of Economic Zones under the Azerbaijani Ministry of Economy has presented the Bulgarian Caspian Lubricants Recycling Company with a resident certificate of the Sumgayit Chemical Industrial Park at the Azerbaijan-Bulgaria business forum held in Baku, Report informs.

With this, the number of residents of the industrial park has reached 41. The company will implement a base oil production project by recycling used engine and industrial oil in the 2-hectare area of the industrial park. The investment cost of the project is 13.1 million manats ($7.7 million). Permanent jobs for 54 people will be created in the enterprise. In addition to the domestic market, the products to be produced at the enterprise are also expected to be exported.