Azeri government assists to Baku Steel Company in replacement of raw materials

Business Materials 31 January 2006 18:29 (UTC +04:00)

From 1 February Baku Steel Company (BSC) will resume production, Namig Ahmadov, the spokesman of the Company, told Trend. According to Ahmadov, the plant holds preparations in relation to beginning of the production.

Suspension of production at BSC for 2 weeks was related to lack of raw metal, used in the armature production.

Touching upon the provision of the enterprise with raw materials, Ahmadov stressed that the plant acquired enough raw materials with the assistance of the government to resume production.

Daily demand for raw material comprises 1,000 tons.

The spokesman noted that suspension of the production did not affect 2,200 employees of the enterprise.

Repair and installation work was carried out at the plant over the period of suspension, he added.

In 2006 Baku Steel Company (BSC) plans to increase production by 25%. In 2005 the figure made up 330,000 tons against 125,000 tons in the beginning of its activities.

BSC has invested $76m in the production so far.

Capacity of BSC, the second big tax-payer of the country, comprises 350,000 tons of armature per year.