Hell Energy will expand into Azerbaijan with the opening of a new beverage can plant in 2025.

The new plant will produce around 700 to 800 million aluminium cans annually.

Hungarian Foreign Minister Péter Szijjártó revealed that Hell Energy Group had entered into an agreement with Azerbaijan Investment Company, representing a value of $211 million.

Writing in a post on Facebook, he said: “Despite the global economic difficulties, Hungarian exports have performed excellently in recent years, since while we are 95th in terms of population, our export performance ranks us 34th in the world ranking.

“However, the difficult economic conditions of the past period have made it clear that in many cases this export performance can only be increased effectively if the production itself is brought to the destination country.

“Azerbaijan is also such a target country, which is also our strategic partner, our relations are based on mutual respect, so Hungarian companies have always been provided with excellent conditions for their operations.

“We will soon report live with our Azeri minister colleague Mikhayil Jabbarov with the details.”