Azerbaijan-Iran joint car plant talks start of exports (Exclusive)
Baku, Azerbaijan, Sep. 9
By Matanat Nasibova - Trend:
The Azerbaijan-Iran joint car plant Khazar plans to start exporting cars to Russia and other CIS countries next year, AzerMash, one of the plant’s owners, told Trend Aug. 27.
The company noted that there are active negotiations on car supply to the markets of these countries.
In general, there are plans to supply about 20 percent of the cars produced at the plant to foreign markets.
Presently, the plant produces Khazar LD and Khazar SD models.
In the near future, it is planned to set up production of cars under the Renault and Peugeot brands, which will cost 18,000-21,000 manats. The cost of cars presently produced at the plant is 14,000-16,000 manats.
The Khazar car plant is located in southeast Azerbaijan in the Neftchala Industrial District. All cars produced there comply with Euro 5 standards.
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 Neftchala. The total cost of the project is estimated at 24 million manats. The Azerbaijani side invested 75 percent in the factory, and the Iranian side invested 25 percent.
(1.7 AZN = 1 USD on Aug. 27)