The fall in industrial production in Azerbaijan remained speedy in November. During the first 11 months of this year Azerbaijan produced goods totaling 5.8 billion manats or 19.5% less than in comparison with the same period in 2014.
According to the State Statistics Committee, production of industrial products and services increased in the commodity terms by 3%.
In the non-oil sector, industrial production grew by 7.5% and in the oil sector – by 0.6%.
The mining industry made 62.4%, and the processing industry made 29.5% of the industrial product. --08D
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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