Agreement on Metallurgical Complex

Posted on Posted in news_en

 

"The Metallurgical Complex worth over 1m Euros will be built in Sumgayit, and more than half of the products to be produced will be export oriented," said Shahin Mustafayev, Minister of Economy, at the event on the development of metallurgy industry, new challenges and targets. According to the minister, the project will be important both in terms of social and reducing dependence on imports, and will create value in the country's economy. The products produced in this complex will fully meet the demand in Azerbaijan.

According to deputy director of Baku Steel Company, Ramin Karimov, during the construction of the complex, 4,000 people will be employed after the start of the enterprise. According to the deputy director, this plant will stop the flow of foreign currency from Azerbaijan thanks to the products it produces and at the same time, Azerbaijan itself will export its products abroad and bring foreign currency to the country.

The executive director of Italian Danieli Company, who is on a visit to our country, said there is a favorable business environment in our country and favorable conditions for foreign investors. According to the Executive Director, the Metallurgical Cluster, which incorporates five metallurgical factories in Sumgayit, will be created, and will ensure the creation of a production chain from metallurgical raw materials to the most diverse products in Azerbaijan.

At the end of the event, an agreement was signed between Baku Steel Company and Italian Danieli Company for the construction of a modern Metallurgical Complex.