Sumgayit Industrial Park to launch $18.5M food packaging project

A new food packaging production project will be implemented at the Sumgayit Industrial Park, managed by the Economic Zones Development Agency, Report informs.

According to the agency, FT Warehousing Company LLC has officially received resident status at the industrial park.

The investment value of the project is 18.5 million manats ($10.88 million). Its implementation is expected to create 100 new permanent jobs.

To date, 42 businesses have received resident status at the Sumgayit Industrial Park, with a combined investment volume of 6.8 billion manats. Residents of the park have already invested more than 5.7 billion manats ($3.35 billion) in their projects, creating over 6,000 permanent jobs.