10:47 - 28.08.2024

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August 28, Fineko/abc.az. Az-Tex-Import, a leading Azerbaijani company, has announced a substantial investment of 10 million manats (approximately $5.9 million) in a project to manufacture IVECO light commercial vehicles.

ABC.AZ reports that the production facility will be located in the Araz Valley Economic Zone, situated in Azerbaijan's Jabrayil district.

According to Samir Ibadullayev, the founder of Az-Tex-Import, the plant is expected to produce 100 IVECO trucks annually, with the potential to increase output in subsequent stages. The construction of the manufacturing facility is currently underway, with production slated to commence in a year's time.