Chairman of JSC ASPC Suddenly Dismissed
On July 23 the Azerbaijani President Ilham Aliyev dismissed Samir Jafarov from the Chairman of the Board of JSC Azerbaijan Steel Production Complex (ASPC).
In ASPC they told Turan that the decision of the head of state was sudden for the state company. Samir Jafarov was at his office until yesterday.
Samir Jafarov received a bachelor's and a master's degree and doctorate in International Relations at the universities of Uludag and Hacettepe in Turkey. Then he did science at MSU. He worked in senior positions in a Turkish company engaged in metal processing. He started creating metallurgy companies in several countries. Finally, he started a business. From 2008 to 2014 he was head of the Heydar Aliyev Foundation in Turkey.
According to the statutes, the Chairman of the Board of ASPC has 3 deputies appointed and dismissed by the decision of the President. However, such appointments did not take place.
ASPC was established in April of 2013. That same year, the Japanese Marubeni Corporation was engaged by the Ministry of Economy and Industry to develop a feasibility study for the establishment of a new metallurgical complex consisting of several companies - from iron ore to finished products. They wanted to involve a company in the design and construction of the complex.
ASPC was created in the midst of the situation around the idea of the construction of a metallurgical complex in Ganja. Det.Al Holding, which privatized 97% of the shares of Dashkesan Mining Plant, and LLC Baku Steel Company applied for that. The government took away the shares of Dashkesan Mining Plant from Det.Al Holding and created its own company on this base. According to the state budget for 2014-2015, the establishment of a new metallurgical complex was allocated several million manat.
However, in these circumstances, the leadership of LLC Baku Steel Company did not give up the ambitions of conquering the Dashkesan iron ore deposits.
Some experts suggest that the removal of Samir Jafarov from the office is the first symptom of victory of LLC Baku Steel Company. At the second step the state can pass control of ASPC to LLC Baku Steel Company and in this the struggle for Azerbaijan iron ore will be completed. -----08B
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review