Azerbaijani-Chinese JV to export heating systems to Russia, Georgia, Iran, Central Asia

Business Materials 27 December 2019 12:09 (UTC +04:00)
Azerbaijani-Chinese JV to export heating systems to Russia, Georgia, Iran, Central Asia

BAKU, Azerbaijan, Dec. 27

By Matanat Nasibova - Trend:

Elektrogas LLC, an Azerbaijani-Chinese joint venture, producing heating systems, will begin exporting its products early in 2020, Director of company Elnur Jamilli told Trend.

Currently, several export routes are currently identified, the director said.

"First of all, it is planned to export to neighboring countries - Russia, Georgia and Iran. At the same time, supplies to Central Asian countries are envisaged. Negotiations are underway with partners in these countries. In the near future, it is expected to expand the geography of export, including the EU market. To this end, the company is intensively increasing its production potential in order to completely cover the domestic market demand and export additional volumes. Production of the company is in great demand within the country, so our first priority is to fully meet the needs of the country's population,” Jamilli said.

“The company produces six varieties of combi heating systems, three of which will be exported under the Made in Azerbaijan brand. Starting next year, we are going to increase the power of combi systems up to 100 kW in order to expand the export potential and geography of supplies. As for the results of 2019, the production volumes of company are expected to the forecasts made at the beginning of 2019,” the company’s director said.

The local and Chinese investments in the amount of 2 million manat (over $1.17 million) were attracted to establish the company. In the future, it is planned to increase investment to 11 million manat ($6.47 million).

The company has been operating since April 2019

The Elektrogas LLC company is located in Baku’s Zabrat village.

(1 USD = 1.7 AZN on Dec. 27).


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