The Azerbaijani Ministry of Economy has named one of the residents in the territory of Balakhani Industrial Park.
According to the information on its website, it is local Foriella Ltd., specializing in the manufacture of furniture, which intends to invest AZN 3 million in thea business on an area of 4,000 sq. meters in the near future. According to the ministry, with access to the optimum power the plant will employ about 150 workers.
Judging from the total employment in the park (300 employees), it is the largest local resident. All the five residents in the business plan to invest AZN 23.4 million, and infrastructure works in the park will be completed before the end of the year.
Yesterday the chairman of the Board of JSC Tamiz Shahar, supervising Balakhani Industrial Park, Etibar Abbasov told reporters that production there will start in the first half of next year. The specific activity will include processing of plastic waste, contaminated oil, paper, wood and bottles.
Negotiations are underway on bringing other residents in the second stage, engaged in the processing of electronic waste, tires, etc. The difference of this industrial park is in the ecological priority, as waste will be used as a raw material there,” he said.
Balakhani Industrial Park was established by the presidential decree dated December 28, 2011 and laid a year later on the territory of 7 hectares in the same village of the Sabunchu district of Baku. --17D-
Economics
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