A transformer production project will be implemented by a new resident of the Araz Valley Economic Zone Industrial Park, located in the Jabrayil district, Azerbaijan, EDnews reports, citing the Economic Zones Development Agency (EZDA) under the Economy Ministry of Azerbaijan.
The representative office of the United Arab Emirates' SENSEMI DMCC company in Azerbaijan has been granted resident status in the Araz Valley Economic Zone Industrial Park under the EZDA's management.
A transformer manufacturing facility will be established by the new resident on 2 hectares of the industrial park's territory. The facility, which will use modern equipment, plans to produce 3,000 transformers annually. The investment value of the project is close to 17 million manats ($10 million).
Currently, 18 business entities with an investment portfolio of 140 million manats ($82.3 million) are registered as residents in the Araz Valley Economic Zone Industrial Park, while 4 entrepreneurs are registered as non-residents.
