A Memorandum of Understanding was signed between the STP Group of Companies, a resident of the Sumgayit Chemical Industrial Park under the management of the Economic Zones Development Agency (EZIA), and the Hungarian "Ikarus" company.
The companies will cooperate in several areas according to the document. The production of "Ikarus" buses in Azerbaijan, increasing the annual production capacity from 100 buses to 500 buses, starting the production of such buses in the Karabakh region in the near future, establishing a service center and other issues are planned among these areas.
The Memorandum of Understanding was signed by Ruslan Agabayli, CEO of STP, and Zoltan Tanko, CEO of Ikarus company.
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