BAKU, Azerbaijan - Azerbaijan plans to build a flour-production plant worth 12 million manats ($7.1 million) at the Agdam Industrial Park, the Economic Zones Development Agency said.
Ağdam Agro Un LLC received resident status at the park and will carry out the project, according to the agency’s October 13 announcement and Vesti Baku.
The agency did not disclose the planned production capacity or the number of jobs to be created by the new mill.
Park Investment Exceeds 175 Million Manats
Agdam Industrial Park was established in 2021 on 190 hectares as part of the redevelopment of territories returned to Azerbaijani control. Its priority sectors include construction materials, food processing, agricultural packaging, fertilizer, animal feed, storage and refrigeration.
The park has granted resident status to 36 companies and nonresident status to three businesses. Investors have committed more than 175 million manats to projects there, creating more than 1,000 jobs, the agency said.
Residents are exempt for 10 years from property, land, profit or income taxes. Machinery, equipment and raw materials imported for production are also exempt from value-added tax and customs duties for 10 years.
Sources: Vesti Baku; Economic Zones Development Agency.