A packaging manufacturing facility will be established in the Alat Free Economic Zone with the participation of India's UFlex Limited and ABIF.

According to information provided by the Ministry of Economy to Operativ Media-, a new production facility is planned to be established based on cooperation between UFlex Limited, an international Indian company specializing in the packaging industry, and the Azerbaijan Business Development Fund (ABIF) under the Ministry of Economy.

The project will be implemented through Flex Middle East FZE, which manages the international assets of UFlex Limited. To this end, a Joint Participation Agreement was signed between ABIF, Flex Middle East FZE, and the Azerbaijan-Uzbekistan Investment Company within the framework of the Second Azerbaijan International Investment Forum.

The $117.7 million production project will be implemented in the Alat Free Economic Zone (AFEZ). For the execution of the project, Flex Films AZB AFEZCO has been established, and a 4.7-hectare land plot has been allocated in AFEZ for the construction of the facility. The project plans to establish a modern plant with an annual production capacity of 60,000 tons.

The implementation of the project will contribute to the development of the non-oil and gas sector in Azerbaijan, the expansion of export-oriented production, the attraction of foreign investment, and the growth of the country's packaging industry.

UFlex Limited is an international company founded in India in 1985. The company specializes in the production of packaging films, packaging materials, and related products and technologies. UFlex exports its products to more than 150 countries and operates manufacturing facilities meeting international standards in nine countries.