For two months of this year, Azerbaijan produced 54 thousand tons of steel castings, which is 1.8% less than in the same period last year. The bulk of steel (84%) is used in the production of building fittings.
For 2 months, 45.3 thousand tons of reinforcement were produced, 71.7% more than last year. At the same time, as of March 1, about a third of the fittings (13.7 thousand tons) accumulated in warehouses, the State Statistics Committee reported.
The situation with exports of ferrous metals is also not better. According to the State Customs Committee, 14.3 thousand tons of ferrous metals and articles of ferrous metals, including steel pipes, were exported in two months, which is 68% less than last year. In value terms ($ 13.5 million a), exports decreased by 37.2%.
Since the beginning of the year, 102.2 thousand tons (-3.4%) of ferrous metal products were imported for a total of $ 101.6 million. ----08D
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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