Neftchala, Azerbaijan, June 8
By Ilkin Shafiyev - Trend:
The Azerbaijan-Iran joint car plant Khazar, located in the Neftchala industrial zone, promotes the introduction of new technologies and the development of industry in Azerbaijan, Azerbaijan's Deputy Economy Minister Niyazi Safarov told reporters in Neftchala city June 8.
This plant is an important enterprise for the Azerbaijani industry, he said.
“The car plant is one of the leading industrial enterprises in Azerbaijan,” he noted. “This enterprise has a full production cycle, which is very important. Such enterprises promote the introduction of new technologies in Azerbaijan, development of industry, machine engineering, creation of new jobs, improving the skills of local specialists, reduction of dependence on imports and expansion of export potential.”
On Aug. 6, 2016, a major Iranian automaker, Iran Khodro, and Azerbaijani company Azeurocar (a subsidiary of AzerMash) signed an agreement to establish a joint automobile factory in the Neftchala industrial zone. The total cost of the project is estimated at 24 million manats. The Azerbaijani side has invested 75 percent in the factory, and the Iranian side has invested 25 percent.
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