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Azerbaijan to invest $250m in industrial zones

10 December 2021 16:19 (UTC+04:00)
Azerbaijan to invest $250m in industrial zones

By Ayya Lmahamad

The acting chairman of Azerbaijan’s Agency for the Development of Economic Zones, Elshad Nuriyev, has said that Azerbaijan plans to invest $250 million in industrial zones, Trend reported on December 10.

He made the remarks at a briefing on the work done in the Sumgayit Chemical Industrial Park and industrial zones in Karabakh.

Nuriyev said that Azerbaijan has five industrial zones and that their main goal is to ensure the sustainable development of the non-oil sector, create and expand new production areas in the country using innovative technologies, and expand the export map of these products.

“Currently, 55 economic entities are registered as residents in industrial zones. A total of $3.7 billion has been invested in industrial zones, and in the future, it is planned to invest half a billion manats, or $250 million,” he said.

Moreover, stating that industrial zones are expected to create an additional 1,500-2,000 jobs, he noted that 9,500 people are currently working there.

“Today the industrial zones of Azerbaijan produce products that have not been produced before. It is not only sold in the domestic market but also exported to foreign countries. We have a wide geography of export. Our products are delivered to neighboring Turkey and Russia, as well as to Central Asian countries, Germany, Netherlands, Poland, Ukraine, Brazil, Canada, USA and China," he said.

Speaking about the Sumgayit Chemical Industrial Park, Nuriyev stated that three more enterprises will start operating there in 2022.

“Residents of the Sumgayit Industrial Park are increasing output and export of the products. In 2021, here two more residents began their activities: a glass production plant and a battery recycling plant. In the first half of 2022, we expect to launch three more enterprises. They will manufacture glass containers, sulphate and packaging products," he said.

He added that the issue of opening a logistics center in the Sumgayit Chemical Industrial Park is being discussed.

"Taking into account the fact that the Sumgayit Chemical Industrial Park is located near the North-South international transport corridor, the opening of a logistics center on its territory is being discussed. There is a very serious interest in this issue," he said.

Additionally, the chairman stated that the possibilities of using renewable energy sources there are being studied. He noted that in this regard vacant areas in the park are being investigated, and the project is being analyzed.

"There are companies that are showing interest in this issue. Both local and foreign companies are considering projects to purchase electricity through the installation of solar panels in the Sumgayit Chemical Industrial Park," he said.

Nuriyev added that the possibility of using alternative sources of water supply is also being considered.

"In addition, the issue of using purified seawater for technical purposes is being studied. Since these projects are quite expensive, we believe that a more detailed analysis will be required," he said.

The creation of industrial parks is one of the areas with great opportunities for innovative economic development. The decrees were signed for the creation of Aghdam Industrial Park (May 28, 2021) and the Economic Zone of the Araz Valley (October 4, 2021) in Azerbaijan's liberated territories.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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