TODAY.AZ / Business

STP reveals production volume

10 September 2019 [15:26] - TODAY.AZ

By Azernews


By Leman Mammadova

Increasing industrial production in the country is one of the main goals to strengthen the non-oil economy in Azerbaijan.

Products worth over 20 million manats ($11.77 million) have been produced in the Sumgayit Technologies Park (STP) since the early 2019, Rashad Aliyev, the STP’s PR Manager, told Trend.

Following the results of the first seven months of 2019, this figure amounted to 20.354 million manats ($11.976 million), he said.

Aliyev stressed that the industrial enterprises located in the Park aim to increase sales within the country and abroad.

“We are talking about the production and export of sandwich panels, industrial pipes, cables, and other types of products,” said Aliyev. “By the end of this year, it is expected to export industrial goods from Azerbaijan to neighboring countries, in particular, to Russia and Georgia.”

Sumgayit Technologies Park is one of the largest industrial enterprises in the region. Commissioned on December 22, 2009, STP is a pioneer in the creation of technology parks in the region and is a complex of giant factories specializing in various manufacturing areas. In 2017, it received a status of the resident of Sumgayit Chemical Industry Park.

At present, there are 13 plants and more than 30 production sites equipped with the latest technological equipment manufactured in Europe and Japan, where 2,000 people are employed.

STP manufactures electric power and mechanical engineering products based on modern technologies. In particular, it has launched production of a wide range of different types of cables, transformers, high-voltage equipment, hydraulic turbines, water pumps, electric motors, pipes, technical gases, etc.

Being a unique project in the region, STP meets the needs of the domestic market and is capable of exporting enough products to the foreign market.

Sumgayit Technologies Park has exported many products to a number of countries such as Germany, England, Denmark, Russia, Turkey, Georgia, Kazakhstan, Uzbekistan, Tajikistan, Kyrgyzstan etc.

STP’s targets are to increase sales operations in Asia and Europe and conquer prospective markets such as Africa and the Middle East.

URL: http://www.today.az/news/business/186153.html

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