"Baku Steel Company" (BSC) after taking under its control almost the whole rolled steel market in Azerbaijan, has expanded its expansionist policy abroad. On July 22 the management announced on the implementation of large-scale plans in the three countries. The company has completed construction and installation works at a metallurgical plant in Fujairah (UAE). Production capacity is 1 million tons per year. The Caspian Steel reconstructed a steel plant in Aktau (Kazakhstan.) The third project is the construction of a metallurgical complex in Iran. Negotiations with the government of that country for this project met the requirements of the company BSC. Metallurgical complex in Iran provides for the ore concentration.
Reconstruction of a steel plant BSC in Baku completed. In 2011-2014 for this purpose were invested about 200 million manat.
Since its commissioning in 2001 was produced 3.5 million tons of products, from which more than 1 million tons were exported.
The authorized capital of LLC "Baku Steel Company" was formed on the basis of equity in three companies in Baku. According to the International Register of legal entities, "Baku Steel Company ltd" is a legal entity of the Man Isle. It is unknown who controls this giant company, with annual capacity of 1 million tons of steel products.--08D—
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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