On 25 September, a Memorandum of Understanding was signed
between the Alat Free Economic Zone Authority and Ukraine’s
“INOVEST” company within the framework of the 2nd Azerbaijan
International Investment Forum.
The Memorandum covers cooperation on an investment project
envisaging the establishment of a new high value-added
manufacturing facility in the Alat Free Economic Zone. For the
implementation of the project, “Inovest AFEZCO” has been
established in the Alat Free Economic Zone.
The project includes the establishment of a manufacturing
facility for the production of silicon carbide, silicon oxide and
silicon. The products are primarily intended for use in the
semiconductor, electronics and other high-tech industries.
The initial investment in the project amounts to EUR 20 million.
The project is expected to create 100 new jobs at the initial
stage, with additional employment opportunities planned as
production capacity expands.
