UAE firm enters Azerbaijan's Jabrayil with $17 million transformer project PHOTO

A company backed by capital from the United Arab Emirates has been granted resident status in the Araz Valley Economic Zone Industrial Park, located in Azerbaijan’s Jabrayil District, part of the East Zangazur region.

UAE-based Sensemi DMCC has established a local branch in Azerbaijan, which will launch a transformer manufacturing facility, Caliber.Az reports, citing the Azerbaijani Ministry of Economy’s Agency for the Development of Economic Zones.

The enterprise, set to occupy a 2-hectare site, will be equipped with modern technology and aims to produce 3,000 transformers annually, with the total investment estimated at 17 million manats.

The Araz Valley Economic Zone currently hosts 18 resident businesses with a total investment portfolio of 140 million manats ($82,400), while an additional 4 companies have registered as non-residents, the agency noted.

By Khagan Isayev