Intertwining of State and Private Property

Azerbaijan private and state ownership are intertwined. Yesterday the management of the private Joint Stock Company Baku Steel Company in the World Economic Forum has signed a contract with foreign partners on the creation of steel and machine-building complex with state ownership.

However, the head of the press service of the State Committee on Property Issues Gulu Khalilov opposed the negotiations on behalf of private companies fully owned state participation, in particular, Azerboru and Dashkesan mining and processing plant.

The essence of the protest does not change, the government approved the deal. In the framework of the chairman of the supervisory board of Baku Steel Company Rasim Mammadov and CEO of the German company SMS SIEMAG Burchard Dakhma (B. Dahmen) signed an agreement on the establishment of the city of Ganja steelmaking plant, integrated with the machine-tool plant, which will build the company Stekel / TLS. According to preliminary calculations, the investment in the project (including the reconstruction Azerboru) amount to 1.1 billion euros. According to Rasim Mammadov, the design capacity of the plant is 1.8 million tons of steel, and the same amount of ore concentrate.

The management of JSC Baku Steel Company has also signed a memorandum of intent to increase our annual capacity Dashkesan mining and processing plant to 5 million tons of iron concentrate with the Vice-president of Siemens VAI Alfred Pisinger..

Investment in this project will amount to 300 million euros. As part of the innovations the new 50-ton electric furnace. The implementation of comprehensive plans for the project will create 25 million new jobs. - 17D-