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The Hazar Balyk Open Joint Stock Company was created to implement the Resolution of the President of Turkmenistan, according to which the Production Complex for artificial breeding of sturgeon fish, black caviar and processing of Caspian and other fish species was built and launched into service on the sea coast of the Balkan Region near to the Administrative Center of Turkmenbashi District by September 2015.

Production Complex of the Hazar Balyk OJSC is located on the shore of the Caspian Sea, near the protected area. It includes an aquaculture farm and a fish processing plant.

Over the years that have passed since the opening of the Industrial Complex, the company has made a qualitative leap forward in its development.