“Garabike” MMC has been granted resident status in the Aghdam Industrial Park, which is managed by the Economic Zones Development Agency under the Ministry of Economy.
The newly registered resident will implement a bicycle manufacturing project within the territory of the industrial park. The investment value of the project amounts to 8.6 million manats.
In the enterprise, which will utilize advanced Chinese technologies, over 44,000 bicycles will be produced annually in the initial phase. In the next phase, it is planned to increase the annual production capacity to 70,000 units.
It should be noted that currently 28 business entities have been granted resident status and 4 entrepreneurs have been granted non-resident status in the Aghdam Industrial Park. More than 115 million manats have been invested by entrepreneurs in the works carried out in the Industrial Park, and over 650 permanent jobs have been created.
