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Akbar Novruz

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Azerbaijan continues expanding the Alat Free Economic Zone (AEZ), with nearly all available land allocated to investors, Azernews reports.

Valeh Alasgarov, Chairman of the Board of Directors of the AEZ’s Authorized Body, said during a business meeting with members of the Istanbul Chamber of Industry (ISO) Assembly in Baku that around 200 hectares of land are currently under the zone’s management, of which approximately 138 hectares have already been presented to investors.

According to Alasgarov, construction work on the remaining areas will be completed within the next two weeks and offered to new investors. “Currently, 23 hectares of land have been presented for factories producing solar panels. The last of the three factories will operate exclusively for this purpose, while the other two will produce silicon crystals and other materials used in panel manufacturing,” he noted.

He added that companies from China, India, Russia, Israel, and Türkiye have already registered in the AEZ. “Four of them are conducting construction work. Two companies will begin production by the end of this year, and the remaining two plan to present their products in the coming years,” Alasgarov stated.

The AEZ is seen as a cornerstone of Azerbaijan’s industrial diversification strategy, attracting foreign investment and promoting renewable energy technologies.