February 9, Fineko/abc.az. The groundbreaking ceremony of a plant producing commercial vehicles and special purpose vehicles of companies Azermash and Russian automaker GAZ Group has been held in the Hajigabul Industrial Town today.
The ceremony was attended by Economy Minister Shahin Mustafayev of Azerbaijan and Economic Development Minister Maxim Oreshkin of Russia.
At a media conference the Azerbaijani minister stated that his country’s relationships with Russia are developing in all spheres and laying the foundation of the new plant is the first example of new cooperation in the field of automobile production.
"The plant, investment in which is expected to exceed $8 million (AZN 14 million), will be based on the Russian technology. Commissioning of the enterprise is scheduled for the end of 2020. Its production capacity will be 1,000 cars a year. The plant project will create 100 new jobs. Half of its output will be sold in Azerbaijan and the remaining will be directed for export to third countries," the minister emphasized.
In his turn, Minister Oreshkin specified that export is to be organized primarily to Iran, Georgia and possibly even to Turkey.
"Today's ceremony is a landmark event and the beginning of the construction of automobile plant GAZ is practical realization of the arrangements reached by our countries’ presidents last September, where the Strategic Partnership Action Plan was signed," the minister.
He pointed out that the new joint plant is mutually beneficial for both Azerbaijan and Russia.
"The plant project means additional growth of employment in Azerbaijan and growth of the Russian economy as the enterprise will ensure about 100 new jobs in Azerbaijan and some of the car components will be produced in Russia. The project will allow creation of new jobs, high wages and a higher quality of life for our citizens," the Russian minister said.
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