Fluctuation in prices for primary aluminum on the world market within 1700 -2200 U.S. dollars is a serious impact on the financial performance of exports and the only producer of non-ferrous metals in Azerbaijan. From the beginning, the amount of aluminum exports in value terms fell by 16%.
The aluminum plant built by Det.AL Holding in Ganja in October 2011 produces annually 50 million tons of aluminum ingots from alumina supplied both by Ganja alumina refinery and from abroad. According to the State Customs Committee, in the first nine months of 2013 the country exported aluminum totaling $ 60.9 million and the share of aluminum in the total exports of the country amounted to 0.34%.
In 2014 Det.AL Holding plans to complete construction of the second phase of the enterprise and to bring production capacity to 100 thousand tons of aluminum per year.
The holding, the names of the founders of which are not disclosed , was planning to implement a project for the production of semi-finished products that can be used in the construction, transportation , production of electrical wires and electronics, as well as in the food industry. On the implementation of this project is not reported.
In April of this year Det.AL Holding lost control of the Dashkesan mining plant. Shares of the company were transferred to the state-run closed-type JSC Azerbaycan Polad Istehsali Kompleksi created by the Azerbaijani President's order.
The global economic crisis 2008-2011 hit the aluminum industry in Azerbaijan. The Sumgait aluminum plant of the company Azeraluminium stopped work. The Central Bank provided this JSC 200 million AZN to cover its debts.
According to the State Customs Committee of Azerbaijan, in 2008, Azerbaijan exported over 61,000 tons of aluminum for a total value of $ 122.3 million, which was 45.5 % more than in 2007. In 2010-2012, this figure amounted to $ 2,683,930, $ 12,689,560 and $ 94,929,430. -08B-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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