Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan and Azerbaijan have created a joint venture to organize the production of passenger cars on the territory of the Hajikabul industrial quarter. This was reported by the Sputnik Azerbaijan agency.

Investments in the project are estimated at more than US$61 million, said Azerbaijani Minister of Economy Mikail Jabbarov.

At the same time, a foundation-laying ceremony for the joint venture was held in the Hajigabul industrial quarter. It is planned that the plant for the production of passenger cars with a total area of 32 thousand square meters. m on an area of 16 hectares will be built by Azermash CP together with Uzavtosanoat.

The plant, with a capacity of 30 thousand cars per year, will assemble, weld car bodies and paint cars. Investments in the joint venture, which is planned to be put into operation in 2025, will amount to about US$51.8 million.