Azerbaijan will embark new industrial enterprises

Baku. 19 October. REPORT.AZ/ So far, 11 enterprises with total investments of up to $ 1.2 bln have been granted resident status in the Sumgayit Chemical Industrial Park.

Report informs, says article by Azerbaijani Economy Minister Shahin Mustafayev, published in the official media.

Minister noted that this year, 4 more enterprises will start operation in the Sumgayit Chemical Industrial Park, also, additional 4 more production facilities in 2018. About 900 new jobs will be created in these enterprises.

According to him, 9 factories will be established in the Mingachevir Industrial Park to manufacture light industry products, including footwear, medical cosmetics, yarn, cotton yarn, dyeing, knitting, sewing and stockings and over 5,000 new jobs will be created: "Resident company of the Mingachevir Industrial Park has launched construction of a plant for production of 2 types of cotton yarns. Investment cost of the plant to start operation by this year-end makes 46 mln USD and it is planned to create 550 new jobs within the framework of the project".

Minister also said that 2 pharmaceutical plants have been established in the Pirallahi Industrial Park together with Russia and Iran in order to manufacture pharmaceutical products, which is a new industry area for Azerbaijan.

According to him, in general, residents have invested $ 1.1 bln in the industrial parks so far, more than 5,500 jobs were created in construction and production.