BAKU, Azerbaijan, July 18. Azerbaijan Industrial Corporation and German Achenbach Buschhütten company signed an agreement on the establishment and evaluation of a joint venture for the manufacturing of aluminum products, Azerbaijani Economy Minister Mikayil Jabbarov said at a meeting dedicated to the results of the first half of this year, Trend reports.
"Work to create the Dashkasan mining cluster is being carried out in accordance with the schedule. Within the above agreement, in Ganja, it’s planned to manufacture rolled aluminum products with an annual capacity of 105,000 tons, and at the first stage of the project, it’s planned to invest $132 million," Jabbarov noted.
"As for boosting the activity of the Baku Shipyard, we closely coordinate this activity related to transit cargo transportation, working with our colleagues, structures and ministries," he also said. "The expansion of this enterprise will allow modernizing the fleet of the Azerbaijan Caspian Shipping Company and, as a result, increase the capacity of transit cargo transportation through Azerbaijan."
"Besides, its expansion will make an important contribution to the processes of industrialization and employment," added the minister.