Sumgait Chemical Industry Development Program needs $1 billion

Sumgait Chemical Industry Development Program needs $1 billion
# 07 May 2007 12:17 (UTC +04:00)
A State Program for Chemical Industry Development in Sumgait, the industrial city of Azerbaijan, is being worked out at a presidential behest. Sumgait Executive Committee chair Vagif Aliyev told APA-Economics that negotiations are ongoing to involve big chemical makers in the reconstruction works in Sumgait.
“We have discussion with Italy’s Technomost, France’s Technik, Germany’s BASF and other companies to the project with state-of-the-art, safe and environmentally clean technology,” he added.
He noted that the reconstruction works, new technologies, raw material and infrastructure and other related activities require $1 billion in investment at the first phase. /APA-Economics/

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