Sumgayit Chemical Industrial Park attracts massive investments

The Sumgayit Chemical Industrial Park, the largest industrial park in the South Caucasus, has become a shining example of Azerbaijan's economic diversification efforts, according to Report.

Kamran Rahimli, head of department at the Economic Zones Development Agency (IZIA), said the park has attracted a staggering 6.2 billion manats (approximately $3.2 billion) in investments, with 40 entrepreneurial entities gaining resident status.

Speaking to journalists during a media tour of the industrial park, Rahimli revealed that over 5.5 billion manats ($3.24 billion) have already been invested, leading to the creation of around 6,800 permanent jobs.

Rahimli also revealed plans to invest a further 554 million manats ($325.88 million) and create more than 2,200 new jobs.

Rahimli noted that in the first half of this year alone, the Sumgayit Chemical Industrial Park produced goods worth 1.3 billion manats ($764 million), with products valued at 455 million manats (approximately $267 million) exported to international markets.