Turkish company to invest 9M AZN in Azerbaijan's Sumgayit Chemical Industrial Park

Turkish-owned Eurotec Group LLC has been granted resident status in Sumgayit Chemical Industrial Park, bringing the number of the park's residents to 42, Report informs with reference to the Economic Zones Development Agency under Azerbaijan’s Economy Ministry.

A plant capable of producing 200,000 metal barrels annually is planned to be established on two hectares of the park's territory. The enterprise, with an investment value of 9 million manats ($5.29 million), will create 120 permanent jobs.

The enterprise, which will apply Belgian technology, plans to sell its products in the domestic market and export.