BAKU, Azerbaijan, July 17. This year, two enterprises—Kartash Kimya LLC, which produces construction chemicals, and Az-Tex-Import LLC, which manufactures IVECO trucks—are set to start operations in the Sumgayit Chemical Industrial Park, TurkicWorld reports.
On July 17, the Economic Zones Development Agency of the Ministry of Economy of Azerbaijan organized a familiarization visit for media representatives to the Kartash Kimya construction chemicals production enterprise.
Director Najmeddin Tashbag briefed the media on the progress of the plant's construction and its upcoming goals.
It was noted that the construction works are nearing completion, and equipment installation will commence in the coming months. The enterprise, which will employ 250 people, has an investment cost of 20 million manat, or $11.76 million, with more than 15 million manat, or $8.8 million, already invested in the project.
In addition to producing construction chemicals, the plant will manufacture waterproofing materials and flooring products for the first time in Azerbaijan.
Kartash Kimya LLC was granted resident status in Sumgayit Chemical Industrial Park in 2022. The enterprise is scheduled to launch at the end of this year and will play a significant role in import substitution and expanding Azerbaijan's export potential.
During the event, media representatives were briefed on the overall activities of the Sumgayit Chemical Industrial Park. It was noted that this largest industrial park in the South Caucasus has granted resident status to 40 business entities with a total investment volume of 6.2 billion manat, or $3.66 billion. Currently, 24 enterprises are operational within the park, and two more are scheduled to launch this year. These new enterprises will create over 300 additional jobs, with investments totaling about 40 million manat, or $23.6 million.
To date, over 5.5 billion manat, or $3.2 billion, has been invested in the industrial park, resulting in the creation of approximately 6,800 permanent jobs. In addition to existing projects, there are plans to invest 554 million manat, or $326.9 million, and create more than 2,200 new jobs. Residents of the park have sold products worth over 11.6 billion manat, or 6.8 billion, with exports accounting for more than 4.1 billion manat, or $2.4 billion (about 35.3 percent).
In the first half of the current year, the Sumgayit Chemical Industrial Park produced goods worth 1.3 billion manat, or $762 million, with exports totaling 455 million manat, or $268.4 million.
