Sumgait Technologies Park undergoes state registration in Azerbaijan

Sumgait Technologies Park has passed state registration in Azerbaijan via the "single-window" process, the Azerbaijani Tax Ministry's official website said informs.

Official representative and founder is "AZENCO GROUP". The authorized capital is 1,000 manat. The company passed state registration on April 6, 2012.

It is expected that Sumgait Technologies Park will fully work by late 2013.
A number of technologies used in the park, are considered a novelty, not only for Azerbaijan but for the whole region. For example, some installations and cables on alternative energy are not made in the CIS countries.

Today, about 3,000 people work there. After the production capacity increases, the number of employees will also increase. At present, ten enterprises operate in the industrial park. It is planned to establish eight more enterprises by late 2013, four of which - by late 2012.

Sumgait Technologies Park (STP) is a big production enterprise realizing new infrastructure projects in the electro energetic industry of Azerbaijan. It is meant to produce products of electro energetic and engineering industry based on modern technologies.

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