Russia to establish production facility in Sumgayit Chemical Industrial Park – PHOTO

A Memorandum of Understanding has been signed between the Economic Zones Development Agency under Azerbaijan’s Ministry of Economy and the Russian company Himtek Engineering.

The document was signed by Seymur Adigozalov, Chairman of the Board of the Azerbaijan Economic Zones Development Agency, and Sergey Lugovskoy, Director General of Himtek Engineering, Caliber.Az reports citing local media.

The agreement outlines the establishment of a $100 million production facility in the Sumgayit Chemical Industrial Park, set to produce chemical products with an annual capacity of 15,000 tons. The new enterprise will create 100 jobs and plans to export products to Russia, in addition to sales within Azerbaijan.