Azerbaijan Investment Company (AIC) and China CAMC Engineering Co. Ltd signed a Memorandum of Understanding in Baku, Trend reports on Sept. 20.
According to the document, an agro-industrial park is planned to be created in Azerbaijan through the Chinese investments.
“A working group, which will determine the location of the future park and its parameters, will be set up implement the project,” Azerbaijani Minister of Economy Shahin Mustafayev said.
He added that investments in the project are estimated at several hundred million dollars. “The implementation of the project also involves the creation of several hundred new jobs,” the minister said.
“We expect more specific steps to be taken at the China International Import Expo 2019 in Shanghai in November 2019 to implement this project,” Mustafayev added.
The minister said that the project envisages the construction of a tractor plant, a plant for the production of irrigation equipment and enterprises processing agricultural products.