TODAY.AZ / Business

Motor oil plant to be commissioned in autumn

14 April 2017 [12:58] - TODAY.AZ
By Azernews


By  Laman Ismayilova

The synthetic motor oil production plant, which is being built on the territory of Azerbaijan’s Sumgait Chemical Industrial Park, will be commissioned in September 2017.

Ariz Guliyev, chief engineer of Alco Lubricant company, announced about this while talking to reporters on April 13.

Guliyev added that the production capacity of the plant will annually reach 30,000 tons of various types of motor oils (synthetic, semi-synthetic and mineral) for all types of vehicles.

"The German and Italian natural gas liquefaction technologies will be used in the production of oils,” he said.

“The products will compete with the ones produced by Mobil, Exxon, Shell, etc. and will be sold both in the country’s domestic market and will be exported abroad under the Azerbaijani brand."

Guliyev added that around $10 million was raised for the construction of the plant.

The Park, which was established to promote industrial production, employment, sustainable development of non-oil sector, and business support in Azerbaijan currently covers an area of 295.5 hectares.  

All residents are exempted from property, land, corporate income taxes, as well as VAT for imported equipment.  

Main objective of the establishment such parks in the country are the creation of favorable conditions in the country for further development of industrial production, provision of support to entrepreneurs, and increasing employment of population in the sphere.  

URL: http://www.today.az/news/business/160226.html

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