BAKU, Azerbaijan, November 28. The wheels of progress are turning swiftly in the realm of production, and the sails of export are catching the winds of opportunity for offerings of ALCO LLC, a resident of Sumgayit Chemical Industrial Park under the management of the Economic Zones Development Agency (İZİA), Trend reports.
The facility generated products valued at 83 million manat ($48.8 million) in the first nine months of 2023, representing a 27 percent increase to 105.5 million manat ($62.03 million) in the same period of the current year.
Products created at the plant were sold to over 40 countries around the world under the Made in Azerbaijan brand.
At present, the enterprise has rolled out 178 permanent jobs, thanks to a hefty investment of $15 million in the pot.
To note, "ALCO" LLC is engaged in the production of lubricating oils and liquids, chemical additives.
The Sumgayit Chemical Industrial Park was founded by a decree from the President of the Republic of Azerbaijan on December 21, 2011. Situated in Sumgayit, 32.5 kilometers from Baku, it encompasses 505.64 ha. The master plan of the Industrial Park stipulates that the Industrial Zone shall encompass agrochemicals, medicinal chemistry, home chemicals, construction chemistry, electronics and automotive industry chemistry, polymers, and industrial equipment manufacturing.
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