CSG to launch Azerbaijan defence venture worth 'hundreds of millions of euros' (updated)

CSG NV

27/04/2026 11:32

Adds joint venture details and plans in bullet point summary.

April 27 (Reuters) - Czech defence group CSG  CSG.AS 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.

Joint venture will be formed between CSG's Excalibur Army Azerbaijani and an unnamed local partner

The venture will operate under the name VEXA DS

Project includes the construction of a repair facility with the ambition to establish the company as a "significant regional player"

The partnership is based on industrial cooperation, know-how transfer and the development of local capacities

(Reporting by Jakob Van Calster, editing by Milla Nissi-Prussak)

((jakob.vancalster@thomsonreuters.com))