Azerbaijani-Chinese VT Factory in Azerbaijan

Fujiai Azerbaijan LLC, a joint Azerbaijani-Chinese venture, plans to launch a US$2.1-million vertical-transportation (VT) factory in the Aghdam Industrial Park in Azerbaijan’s Karabakh region, Caliber reports. Operating on a 1-ha site, the facility will be equipped with advanced Chinese technology and capable of producing 1,200 elevators annually in the first phase. Escalator production is expected to launch in the second phase. The Aghdam Industrial Park is managed by Azerbaijan’s Economic Zones Development Agency, part of the Ministry of Economy. Hosting nine active enterprises, the park plays a “vital role in Azerbaijan’s efforts to diversify the economy and strengthen the competitiveness of the non-oil sector,” the source stated.