ASPC Considering Proposals of Russian Consortium

CJSC Azerbaijani Steel Production Complex (ASPC) has begun to review the joint technical proposal of JSC Uralmash and JSC Elektrostal Heavy Engineering Plant for the construction of the plant Pellets, the first link on the processing of iron ore concentrate and steel production.

The proposals from the Russian side were presented in Baku by the General Director of JSC Elektrostal Heavy Engineering Plant Vladimir Zarudny. According to him, Uralmash and Elektrostal Heavy Engineering Plant are "global factories" with years of experience in the design and construction of modern systems for the steel industry. This structure for 50 years has installed 52 plants of this type.

ASPC told Turan that probably this year will be completed the selection of technical proposals for the construction of the complex production of steel, consisting of three main factories in the city of Ganja. Preliminary analysis found that the investment in the construction of the complex will be repaid in just 4 years. The annual capacity is 1.5 million tons of products (rebar, channels, wire rods, steel sheets, metal, etc.) per year.

Currently, the power of ASPC Dashkesan Mining Plant is 350 thousand tons. In the first half of this year, iron ore concentrate production amounted to 54.6 thousand tons, 0.9% more than in the first six months of 2014, the State Statistics Committee said.

The press service of ASPC told Turan that KPMG is auditing the financial statements for 2014, which will be released to the public.

State-run JSC ASPC was created by the presidential decree on 23 April 2013. -----08B