Chairman of Azerbaijani-Iranian car plant’s management board appointed

Business Materials 25 December 2017 16:10 (UTC +04:00)

Baku, Azerbaijan, Dec. 25

By Anvar Mammadov – Trend:

Emin Akhundov has been appointed as the Chairman of Management Board of the Azerbaijani-Iranian car plant Azermash OJSC, created jointly with Iran Khodro, a source on the auto market told Trend Dec. 25.

Akhundov, who is the founder of Azermash, has occupied leading positions in Azerbaijan’s banking sector for 15 years.

The car plant Azermash is being built in Azerbaijan’s Neftchala Industrial Site on the basis of an agreement signed between Iran’s automobile manufacturer Iran Khodro and Azerbaijan’s AzEuroCar LLC.

It was previously expected that the plant will be commissioned in December 2017, but then the plant’s opening was rescheduled for 2018.

The joint Azerbaijani-Iranian plant is expected to manufacture Dena, Rana, Soren and Samand cars, as well as a number of Peugeot models.

The project’s cost is estimated at 24 million manats and the plant’s annual capacity will be about 10,000 cars.

The cars are planned to be exported to Ukraine, Russia and Central Asian countries in the future.