Who will own ore resources in Dashkesan-Ganja region? (UPDATED)

In accordance with the decree of the Azerbaijani President, Samir Donmez oglu Jafarov has been appointed the Chairman of CJSC "Azerbaijani complex for steel production." This appointment has been made nearly 10 months after the decision on the establishment of JSC.

A decree on the establishment of CJSC "Azerbaijani complex for steel production" was signed by President Aliyev on April 23, 2013. 

Then the Cabinet of Ministers was instructed to solve within a month the funding authorized capital stock, submitting the President of the country the charter and structure of the new production facility.

However, no real steps on the beginning the activity of the CJSC has been taken except to provide 2 million manat to finance the charter capital.

The assets of the Dashkesan ore mining and processing plant were transferred to the JSC "Azerbaijan steel production complex". Immediately before the creation of the Company, the stocks of the plant were taken from the "Det.Al Holding", which did not fulfill its investment obligations. This holding also previously claimed to create in Ganja-Dashkesan region a complex of enterprises for initial processing, steel smelting and production of various metals.

However, while state complex for steel production is being created by slow steps, a private company "Baku Steel Company" announced its ambitious plan to build ferrous metallurgy plants in the Ganja- Dashkesan region totaling $1 billion 200 million euros.

Just in this region was to be implemented the government's plan for the production of steel, and therefore the CJSC was specially created.

According to some observers, the creation of JSC is a mere formality, and soon it will be transferred to "Baku Steel Company" which is monopolizing steel industry.–06d08--

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2014 February 15 (Saturday) 11:50:51

IN accordance with the presidential decree,  Samir Jafarov has been appointed  the head of the CJSC "Azerbaijani complex for  steel production."

The official statement  reads  nothing else about this complex. Apparently, it is about creating an industrial unit, which will be involved in the production and purchase of ore and steel. This means that the complex will include existing smelters in the country and possibly production capacity in the regions (Dashkesan.) -02D-


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