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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