CSG Announces Major Defence Venture Launch in Azerbaijan Worth Hundreds of Millions
CSG's Strategic Joint Venture in Azerbaijan
April 27 (Reuters) - Czech defence group CSG said on Monday it would set up a joint venture between its Azerbaijani subsidiary and a local partner to service armoured vehicles and other land-based military equipment in the country.
The programme covers hundreds of units of equipment with a total value in the "hundreds of millions of euros", and is intended as a long-term investment lasting at least 10 years, the company said in a statement.
Key Details of the Joint Venture
Partnership Structure
• Joint venture will be formed between CSG's Excalibur Army Azerbaijani and an unnamed local partner
Operational Framework
• The venture will operate under the name VEXA DS
Project Scope and Ambitions
• Project includes the construction of a repair facility with the ambition to establish the company as a "significant regional player"
Industrial Cooperation and Local Development
• The partnership is based on industrial cooperation, know-how transfer and the development of local capacities
Reporting and Editorial Credits
(Reporting by Jakob Van Calster, editing by Milla Nissi-Prussak)
