STAR COMPANY TO COMPLETE CONSTRUCTION OF TWO PLANTS TILL LATE 2005
The Turkish Star group of companies will complete the construction of the two plants on production of automobiles and domestic appliances till late 2005, Ali Evsen, the President of the group of companies, told Trend in an interview.
According to Evsen, output of refrigerators, laundry washers and air-conditioners will start in August, while the plant on car assemblage will be ready in October.
вЂњOur total investments in the two plants will comprise $50 million with $20 million for the car plant and $30 million for the output of domestic appliances. We will assembly Iranian Samandar cars on the base of French Peugeot technology,вЂќ Evsen said.
He noted that devices for the car plant will be purchased from Malaysia. In the first stage the Shamakhi car plant will annually assemble 2000 cars from Iranian component parts, but the Star intends to start output of component parts in Azerbaijan.
The Star plans to sell the cars in Azerbaijan and export them to the neighbor countries.
The Star group of companies has a TV production plant in Shamakhi, which sold its product in Azerbaijan and exported to Georgia and Russia.