TODAY.AZ / Business

BriOil to develop recycling industry in Azerbaijan

13 March 2019 [16:38] - TODAY.AZ

By Azernews


By Leman Mammadova

Azerbaijan aims to improve recycling industry by attracting foreign investors to implement joint projects.

Public consultation on project “Tire recycling plant in Balakhani Industrial Park” was held at ADA University on March 12.

Chairman of the Board of Tamiz Shahar OJSC Etibar Abbasov appraised joint cooperation between ADA University and OJSC, AZERTAC reports.

Abbasov said that there were problems in the processing of tires in Azerbaijan. Brioil Company will first of all carry out the processing of waste tires and alternative energy will be obtained as a result. This will bring investment to Azerbaijan and all the products produced will be exported.

“I think that the problem of waste tires in Baku will be resolved and that plant will employ 25 people. There are 15 residents together with BriOil from 17 activity fields at Balakhani Industrial Park,” he noted.

Italian Ambassador to Azerbaijan Augusto Massari said that this project will give impetus to the development of economic relations between Azerbaijan and Italy.

“This new project is invested in by Italy in Azerbaijan. The project is purely related to a clean ecological economy, and renewable energy will be obtained as a result of such a project, which will create conditions for the diversification of the goods exported by Azerbaijan. I think that this project will create conditions for the development of energy projects between Italy and Azerbaijan,” noted Massari.

Gianluca Bonucchi, manager of BriOil Group's energy division, said that through recycling of waste tires at the Balakhani Industrial Park, we will get bioenergy and biodiesel. By exporting this energy, we will work together both economically and ecologically.

Gulara Mammadova made a presentation on "Environmental Impact Assessment Activities" at the project presentation.

At the end, discussions were held on the project.

Recently, Brioil company has received a resident status at the Balakhani Industrial Park. The company will produce biodiesel by recycling used tires. Brioil has 1350 square meters of space for the construction of industrial facilities. The planned amount of investments is expected to reach 3 million manats ($1.77 million). Twenty new jobs will be created there.

The Balakhani Industrial Park was commissioned in 2017 for the purpose of developing green economy in Azerbaijan. The main goal of this park is to create favorable conditions for potential entrepreneurs and investors interested in recycling industry.

Investors have been exempt from various taxes and customs duties for seven years in the Balakhani Industrial Park as in other industrial parks.

Balakhani Industrial Park currently has 15 residents. Seven of them are already operating. In total, the residents invested 37.3 million manat ($21.95 million). Taking into account the interest of entrepreneurs, area of the Industrial Park has been expanded to 8.3 hectares. The management company of the Balakhani Industrial Park is Tamiz Shahar OJSC.

Establishment of industrial parks with modern production infrastructure envisages sustainable development of Azerbaijan's non-oil sector, increasing the export capability of the country's economy, as well as the production of competitive, import-substituting products, providing employment of local population.

At present, Pirallahi Industrial Park, Sumgait Chemical Industrial Park, Balakhani Industrial Park, Mingachevir Industrial Park and Garadagh Industrial Park are operating in the country.

URL: http://www.today.az/news/business/180219.html

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