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Investments in Azerbaijan’s industry parks to exceed 1B manats

Investments in Azerbaijan’s industry parks to exceed 1B manats

Date: 19 December 2015 11:17

Baku, Azerbaijan, Dec. 19

By Anvar Mammadov – Trend:

Total investments in Azerbaijan’s industry parks will exceed one billion manats (over $955 million), Niyazi Safarov, the deputy minister for economy and industry, has said.

“As of now, the Sumgait Chemical Industry Park and the Balakhany Industry Park have four registered residents each, one resident has been registered in the Garadagh Industrial Park,” he said Dec. 18 at a conference on implementation of state program on development of industry in 2015-2020.

He added that meanwhile a work is underway at the Mingachevir High Technologies Park to create the necessary infrastructure there.

“Investments in the projects implemented by these parks’ residents will exceed one billion manats,” noted Safarov.

He said about 10 million manats will be invested in the Balakhany Industry Park.

“The small amount of investments is primarily due to the territory of the industry park, but in the future the investments will increase with the expansion of its territory,” said Safarov.

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