Management of Met-ak LLC met at the Baku Stock Exchange with representatives of all the six investment companies of Azerbaijan. The parties discussed the business plan of the company, for the implementation of which funds can be raised from the capital market, including the optimal tools, the BSE informs.
At the meeting, the cost of financing the project of the company Met-ak was also assessed, the amount of which has not yet been disclosed. Also information on the timing of the company's securities is not provided.
LLC Met-ak was founded in 1997 and was engaged in the import of steel pipes. In 1999 the company started production of steel pipes, and in 2005 it started making polymer pipes. In 2006, the company established a subsidiary structure, LLC Langu (planting orchards and fruit production). In 2014, the production of agricultural machinery was established. In 2016 LLC Met-ak received the status of a resident of the Balakhani Industrial Park. ---08D
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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