Number of residents to double at Balakhani Industrial Park

These enterprises will process polyethylene, cooking oil and waste, plastic, paper, as well as produce activated carbon and electrical tapes, he noted.

“To date, five enterprises are already operating in the industrial park,” Abbasov said, adding that “thus, the total number of operating residents of the industrial park will be 10.”

The creation of favorable conditions for further development of industrial production, provision of support to entrepreneurs and increasing employment of population in the sphere are considered to be main objectives of the establish- ment of industrial parks.

Presently, there are five such parks (the Sumgayit Chemical Industrial Park, industrial parks in Garadagh, Balakhani, Mingachevir and Pirallakhi settlements), as well as Neftchala, Hajigabul and Masalli industrial zones, in Azerbaijan.

The Balakhani Park was created by the decree of President Ilham Aliyev dated December 28, 2011. The main purpose in establishing this Park was to provide favorable conditions for potential entrepreneurs and investors interested in recycling industry.

The opening of the park was held in Baku on September 22, 2017. The managing organization of the Balakhani Industrial Park is Tamiz Shahar Open Stock Company, which is under subordination of the Ministry of Economy of the Republic of Azerbaijan. The total area of the Balakhani Industrial Park is 7 hectares.

Currently, five residents engaged in recycling of used motor oil, waste plastic bottles, paper and cardboard products, waste plastic materials, sponge waste operate on the territory of the park.

In total, 10 residents, including Ekokat, Az.Ekol, METAK, Foriella, Bioropean, Altura Group, Alphapack Azerbaijan,Carboza,as well as individual entrepreneurs Etibar Eminov and Tarlan Azimov, are registered here.