BAKU, Azerbaijan, June 4
By Matanat Nasibova - Trend:
Elektrogas LLC, an Azerbaijani-Chinese joint venture, producing heating systems, will expand the varieties of heating equipment this year, the company’s Director Elnur Jamilli told Trend.
“To this end, a new plant will be launched soon to establish production of panel radiators”, Jamilli noted.
“Every month, the plant will produce 10,000 running meters of panel radiators. At the same time, the cost of 1 running meter of the new type of product in the domestic market will be 55 manat [$32.3],” he said. “The current domestic sale price of imported panel radiators is 70 manat [$41.1]. Therefore, the appearance of domestically manufactured products of this type on the local market is economically beneficial for the population of our country, meeting the interests of manufacturers, since there is always a demand for these products both internally and abroad.”
The new plant is expected to start operating in Azerbaijan the next month. At the initial stage of work, the plant will employ 40 workers.
The volume of investments made to establish the new plant amounted to 12 million manat ($7 million). This is the second largest plant in Azerbaijan, which will be engaged in the manufacturing of heating equipment.
The first plant has been launched in 2019. Local and Chinese investments in the amount of 2 million manat (over $1.1 million) were attracted to establish it.
Elektrogas LLC is located in Baku’s Zabrat settlement.
(1 USD = 1.7 AZN on June 4)