Aghdam Industrial Park resident to invest $2.9M in plastic recycling

A new resident of the Aghdam Industrial Park will implement a project to recycle plastic waste and produce corrugated and high-pressure-resistant polyethylene pipes.

Report was informed by the Economic Zones Development Agency under the Economy Ministry of Azerbaijan that Ceer Plastik LLC has been granted resident status in the park managed by the agency.

The investment value of the project is 5 million manats ($2.9 million).

So far, 31 business entities have been granted resident status and five entrepreneurs non-resident status in the Aghdam Industrial Park.

Entrepreneurs have invested more than 172 million manats ($101.2 million) in projects implemented in the park, creating over 1,000 jobs.

The park, which ranks second in the country by number of residents, exports its products in addition to supplying local demand.