Baku. TurkicWorld:
The resident of Sumgayit Industrial Park, Az-Tex-Import LLC, plans to export trucks to Russia, Turkmenistan, Iran, and Georgia, TurkicWorld reports.
According to the Economic Zone Development Agency (IZIA) under the Ministry of Economy of Azerbaijan, an enterprise for the production of light, medium, and heavy trucks of the IVECO brand will start operating at the industrial park this year.
Furthermore, it is noted that the construction of the IVECO plant, managed by 'Az-Tex-Import' LLC, is close to completion, and installation of the equipment will begin in the upcoming months.
The cost of the project is 19.2 million manat ($11.2 million), of which over six million have already been invested. The plant will provide permanent employment for 90 people.
Moreover, it is expected that 100 cars will be produced annually, which will be sold both in the domestic market and exported to Russia, Georgia, Turkmenistan, and Iran.
To note, the company was granted the status of a resident of Sumgayit Industrial Park in May 2022.
To date, the resident status of the Sumgayit Industrial Park has been assigned to 40 business entities with a total investment of 6.2 billion manat ($3.6 billion).
A total of 24 enterprises are currently operating in the park, and this year it is planned to open two new enterprises, which will attract investments of about 40 million manat ($23.5 million) and create more than 300 new jobs.
