Balakhany Industrial Park gets new resident
By Rashid Shirinov
MET-AK Company received a status of the fifth resident of the Balakhany Industrial Park on July 29. The corresponding certificate was handed over to the company during an event hosted by the Economy Ministry of Azerbaijan.
The company will be engaged in recycling of plastic products in the Park. To this end, MET-AK plans to invest 16.5 million manats ($10.3 million) in the Balakhany Industrial Park. This investment is supposed to create over 130 new jobs.
MET-AK will receive 2,000 square meters of the industrial Park’s territory for realization of the project.
Balakhani Industrial Park was established upon the presidential decree dated December 28, 2011. The foundation of the Industrial Park was laid on December 19, 2012.
The main purpose in establishing this Park was to provide favorable conditions for potential entrepreneurs and investors interested in recycling industry.
The total area of the Balakhany Industrial Park is seven hectares. The amount of investment into the industrial Park will be about 23 million manats ($14.4 million) that will result in opening of more than 200 workplaces.
Besides MET-AK, there are three сcurrent residents of the Balakhany Industrial Park. They are Ekokat LLC involved in processing of used motor oils, AzEkol LLC that recycles plastic bottles, and EcoTire LLC involved in wheels recovery via cold processing method.
The Park provides tax exemption for seven years to businesses involved in production there. In general, the geographic location of the Park, its proximity to the main transport hub, as well as to internal and external market facilitates the process of sales of recycled materials produced in the Park.
MET-AK Company was established in 1997. The Company specializes in the delivery of pipes, pipeline components and pipeline fixtures from CIS countries, primarily from Russia and Ukraine.
Currently, MET-AK offers its clients more than 2,500 products, and their range is growing every year.
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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov
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