A new, 23-rd resident of Azerbaijan’s Balakhani Industrial Park, Zafar Ishighi LLC, has been registered, Trend reports with reference to the country’s Ministry of Economy.

According to the ministry, the enterprise plans to produce 5.4 million LED lamps a year. The total investment cost of the project reaches 1 million manat ($588,000).

The enterprise will create 20 permanent jobs, the ministry said.

As the ministry said, 16 out of 23 residents of the Balakhani Industrial Park are already functioning, about 800 permanent jobs have been created.

The main goal of the industrial park is to create a favorable business environment for small and medium-sized businesses (SMEs) in Azerbaijan, as well as to stimulate the reuse, processing and recycling of products.

Source: TREND News Agency