Residents of the Sumgait Chemical Industrial Park (SCIP) will start production in 2017-2018, Azerbaijan’s Deputy Economy Minister Niyazi Safarov reported.
Safarov said that one of SCIP’s biggest residents SOCAR Polymer would begin test production in the second half of 2017 and would reach its full production capacity in 2018.
The creation of industrial zones is one of the most important steps for reducing oil dependence, as well as the development of industry and employment in this area, he noted.
The Sumgait Chemical Industrial Park is Azerbaijan’s first major industrial park, said the deputy minister adding that nine residents have already been registered there and one plant (Azertexnolayn) has already started production.
Such industrial parks will give a serious impetus to the development of regions and help diversify non-oil sectors of the economy, according to him.
With regard to other industrial parks, Safarov said that foundations of a number of pharmaceutical plants would be laid in the Pirallahi industrial park in the near future.
“Our Garadagh industrial park also operates successfully. Its resident is a shipbuilding company, which implements a number of big projects”, he noted. “Installation work has already been completed in the Balakhani industrial park, where five residents have been registered so far. They will start operating in the near future”.
The work on creation of an industrial park in Mingachevir is also underway, the deputy minister said.
“As you know, this park focuses on light industry, nine production sites will operate there”, Safarov said. “We are already negotiating with investors. It is expected that the park will be operational in the near future”.
Moreover, the deputy minister added that serious work was underway on the creation of industrial zones and areas.
All installation work has been completed in the Neftchala industrial district and its first residents have already been registered, said Safarov adding that currently, they were engaged in the supply of their equipment to the district’s territory, and would begin operating in the near future.
Meanwhile, the work has started on the creation of an industrial area in Masalli district, he noted.
“I believe that these and other industrial zones will help us achieve sustainable economic development”, the deputy minister added. (Trend/Business World Magazine)
