Azerbaijan Expands Industrial Capacity With Sino Joint Venture In Aghdam

2025-07-08 08:06:33

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 8. Fujiai Azerbaijan LLC, a joint Azerbaijani-Chinese venture, is set to open an elevator manufacturing facility in Azerbaijan's Aghdam Industrial Park, Trend reports.

The initiative has attained formal resident designation from the Economic Zones Development Agency, functioning under the auspices of the Ministry of Economy. The organization is poised to allocate 3.7 million manat ($2.1 million) for the establishment and operationalization of the facility on a one-hectare parcel, targeting an annual throughput capacity of up to 1,200 elevator units.

The company intends to leverage cutting-edge Chinese innovations within the manufacturing paradigm and anticipates initiating a subsequent phase that will encompass escalator fabrication at the identical Aghdam facility.

The Aghdam Industrial Park, situated in a zone significantly impacted by hostilities with Armenia, currently accommodates 29 resident enterprises, boasting a cumulative investment portfolio of 270 million manat ($158.8 million). There are presently four supplementary entities that have been duly registered as non-resident participants.

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