BAKU, Azerbaijan, January 27. On January 27,
President of the Republic of Azerbaijan Ilham Aliyev laid the
foundation stone for the polypropylene and laminated bag production
facility of “Nun” LLC in the Sumgayit Industrial Park, Trend reports.
Kamran Rzayev, founder of “Nun” LLC, briefed the head of state
on the future enterprise.
It was reported that “Nun” LLC, which was granted resident
status in the Sumgayit Industrial Park last year, will construct
the production facility on one hectare of the Park’s territory in
line with the project. Utilizing German technology, the facility
will have an annual production capacity of 1,680 tons of laminated
bags and 1,440 tons of polypropylene bags, totaling more than 3,120
tons. The products will primarily meet domestic market demand. The
facility will create 140 permanent jobs. The total investment
volume amounts to 11.2 million manats. The Azerbaijan Business
Development Fund under the Ministry of Economy plans to allocate a
preferential loan of 3 million manats for the establishment of the
enterprise. The imported equipment for the facility is planned to
be exempt from value-added tax (VAT) and customs duties upon
importation.
Will be updated
