(MENAFN - Trend News Agency) Hajigabul, Azerbaijan, Feb. 9
By Jeyhun Alakbarov - Trend:
The establishment of the GAZ car assembly plant in Azerbaijan is a good precedent for the industrial sector, which will also contribute to the expansion of economic ties between Russia and Azerbaijan, the Minister of Economy of Azerbaijan Shahin Mustafayev said at the groundbreaking ceremony of assembly plant for GAZ cars in Azerbaijan's Hajigabul industrial area, Trend reports Feb. 9.
The minister noted that $8 million will be invested in the car plant.
He added that the plant will be built using Russian technologies, and construction should be completed before the end of 2019.
"Annually 1,000 cars for different purposes will be produced. Half of the cars produced will be sold in the domestic market of Azerbaijan, the rest will be exported to other countries. The establishment of the plant is a good precedent for the industrial sector, which will also contribute to the expansion of economic ties between Russia and Azerbaijan," the minister said.
The groundbreaking ceremony of assembly plant for GAZ cars was held in Azerbaijan's Hajigabul industrial area on Feb. 9.
The volume of investments in the enterprise will be 14 million manats. At the initial stage, 100 people will be employed at the plant.
The enterprise will assemble GAZel NEXT and GAZel BUSINESS light commercial vehicles, as well as GAZon NEXT medium trucks.
AzEurocar, a AzerMash subsidiary, will deal with the distribution and maintenance of GAZ vehicles in Azerbaijan.
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