President Ilham Aliyev on June 10th, allocated from the reserve fund of the state budget to JSC Azerbaijan Polad Istehsali Kompleksi (Azerbaijan Complex for the Production of Steel) AZN 5 million for its activities. At the disposal of the head of state noted the need to ensure the efficient operation of the structure and improve its logistics.
Joint Stock Company was established on April 23 last year and its main asset is a controlling stake in Dashkesan Filizsaflashdirma (Dashkesan Mining Complex). Formation of JSC was slow – the chairman Samir Jafarov was appointed on February 14 this year. The Ministry of Economy and Industry on April 22 this year signed a contract with Marubeni Corporation (Japan) to provide advice under construction project for the production of steel in Ganja and Dashkesan. The terms of the contract were not disclosed.
Taxes Ministry registered JSC Azerbaijan Polad Istehsalı Kompleksi as a legal person a few days ago - on June 6th. For the formation of its share capital from the state budget for 2014 was allocated AZN 2 million.
The functions of the JSC are to ensure the entire chain of steel production in Ganja and the Dashkesan region and to use modern technologies in the production of steel.
According to the State Statistics Committee, within 4 months of this year the Dashkesan mining plant produced 50,000 tons of iron ore, which is 20 000 tons less than the same period in 2013. Unsold by May 1 were 43,000 tons of raw materials. -0 -
Economics
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