BAKU, Azerbaijan, January 27. On January 27, President of the Republic of Azerbaijan Ilham Aliyev laid the foundation stone for the polypropylene and laminated bag production facility of “Nun” LLC in the Sumgayit Industrial Park, TurkicWorld reports.
Kamran Rzayev, founder of “Nun” LLC, briefed the head of state on the future enterprise.
It was reported that “Nun” LLC, which was granted resident status in the Sumgayit Industrial Park last year, will construct the production facility on one hectare of the Park’s territory in line with the project. Utilizing German technology, the facility will have an annual production capacity of 1,680 tons of laminated bags and 1,440 tons of polypropylene bags, totaling more than 3,120 tons. The products will primarily meet domestic market demand. The facility will create 140 permanent jobs. The total investment volume amounts to 11.2 million manats. The Azerbaijan Business Development Fund under the Ministry of Economy plans to allocate a preferential loan of 3 million manats for the establishment of the enterprise. The imported equipment for the facility is planned to be exempt from value-added tax (VAT) and customs duties upon importation.
