Alat:A facility for packaging product production will be established in the Alat Free Economic Zone, involving India's UFlex Limited and the Azerbaijan Business Development Fund (ABDF).

According to Azeri-Press news agency, the project will be executed through cooperation between UFlex Limited, a prominent player in India's packaging industry, and the ABDF, which operates under Azerbaijan's Ministry of Economy. This collaboration will be facilitated by Flex Middle East FZE, which manages UFlex Limited's international assets.

A Joint Participation Agreement was signed between ABDF, Flex Middle East FZE, and the Azerbaijan-Uzbekistan Investment Company during the Second Azerbaijan International Investment Forum. The project, valued at USD 117.7 million, will be implemented in the Alat Free Economic Zone. Flex Films AZB AFEZCO has been established for this purpose, and 4.7 hectares of land have been allocated for the facility, which is expected to have an annual production capacity of 60,000 tons.

The project aims to boost Azerbaijan's non-oil and gas sector, expand export-oriented production, attract foreign investment, and advance the country's packaging industry.

UFlex Limited, founded in India in 1985, specializes in packaging films, materials, and related technologies. The company exports to over 150 countries and operates production facilities that meet international standards in nine countries.