Glassica CJSC to invest $26m in Sumgait Chemical Industrial Park

Glassica CJSC, a resident of Sumgayit Chemical Industrial Park under the management of the Economic Zones Development Agency (EZDA), will build a second factory for the production of glass products with an investment of AZN44.4m ($26m) on 2 hectares in the Industrial Park, Azernews reports.

According to the information received from the agency, the company signed an agreement with the German company HORN Glass Industries AG, which has more than 130 years of experience in the field of glass-melting technologies. Further, the German company will carry out the design of the newly created enterprise, and equip it with modern technologies.

As regards the the investment volume of the company, it is AZN44.4m ($26m), and the annual production capacity will be 160 tons of glass products. Moreover, a total of 160 people will be provided with permanent jobs. The company plans to sell its products in domestic and foreign markets.

Glassica CJSC is an enterprise that produces glass products in the Sumgayit Chemical Industrial Park. The production capacity of the company is 50 tons of products per year. In addition to being sold in the domestic market, the products of the company are exported to Moldova, Romania, and Georgia.