The Araz Valley Economic Zone, a thriving industrial park in Azerbaijan, has recently welcomed its 12th resident company - Khanbulaq LLC, Azernews reports.

The Economic Zones Development Agency officially announced the new addition to the growing economic hub.

Spanning across a 2.5-hectare area, Khanbulaq LLC is set to establish a 40-room hotel and a restaurant with a capacity of 100 people. This ambitious project, valued at 7 million manats (approximately $4.1 million), is expected to create employment opportunities for 60 individuals.