TEHRAN – First cars of Azerbaijan-Iran joint car plant are planned to be manufactured starting from 2018.
Azerbaijani Deputy Economy Minister Sahil Babayev said that the construction of the car factory in Neftchala will soon be over: “We have set a date for the start of production of cars next year with our Iranian partners.”
Groundbreaking ceremony for the joint plant located at the territory of Neftchala Industrial district was held in mid-2016. The project is implemented by Azerbaijani company AzEurocCar and Iranian manufacturer Khodro.
The plant with a capacity of about 10,000 cars per year will produce four Iranian car brands – Dena, Runna, Soren and Samand. The project is worth $15 million.
Earlier, AzEuroCar’s representative noted that the price of new cars will be 10,000-12,000 manats ($5,800-7,000), adding that the cars produced at the plant will meet Euro 5 standard.
Production of some spare parts is planned in local factories. The plant intends to cooperate with the Sumgayit Industrial Park and SOCAR’s new plant.
Some 20 percent of the vehicles will be exported to CIS and Central Asian countries.
Sahil Babayev further added that cooperation with pharmaceutical companies that are building their plants in the country will continue. Next year, the P-Farm plant will be put into operation, and the plant of the Iranian pharmaceutical company will be put into operation in 2019.
In late 2015, the government announced that Azerbaijan will create its own enterprises that will manufacture medicines to cease dependence on imports. Today, the local market of medicines is heavily dependent on imports.
The first plant is a joint venture with a group of companies R-Pharm (Russian Federation), Vita-A LLC (Azerbaijan) and Azerbaijan Investment Company (AIC). The foundation of the Hayat Farm was laid in November 2016.
date: 16 September 2017 id: 9296 source: