Azerbaijan to launch IVECO truck production

Founder of the resident company of the Sumgait Chemical Industrial Park - Az-Tex-Import LLC Samir Ibadullayev has said that Az-Tex-Import LLC plans to launch the production of small, medium, and heavy-duty trucks under the IVECO brand by the end of 2024.

"The construction work at the facility is nearing completion. In the coming months, equipment installation will begin," Ibadullayev told journalists during a media tour of the site, Caliber.Az reports.

He also noted that 90 jobs will be created at the facility.

The investment cost of the project is 19.2 million manats ($11.3 million), with over 6 million manats ($3.5 million) already invested to date.

Additionally, Ibadullayev mentioned that the facility will produce 100 vehicles per year. Besides serving the domestic market, the trucks will also be exported to Russia, Georgia, Turkmenistan, and Iran.

Sumgait Chemical Industrial Park was established under the decree #548 of December 21, 2011 of Azerbaijani President Ilham Aliyev.
The goals of industrial park's establishment are to create favourable conditions in the country for the development of country’s industrial production competitiveness by means of innovative and high technology; to promote and support entrepreneurship; to provide sustainable development of non-oil sector; to increase of industrial employment of the population.