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Baku Steel Company May Cease Production

Business Materials 14 February 2007 14:08 (UTC +04:00)

Ali Askeri, the Baku Steel Company (BSC) Vice President, informed Trend that this week BSC resumed production on February 14th. The production was restored after the accumulation of the exact volume of raw metal.

We set up production to avoid financial difficulties, particularly those related to the payment of salaries in the local market, Mr. Askeri stressed. At present the Company receives only half its annual demand for raw metal, which exceeds 1,000 tons.

Currently the company is involved in the collection of raw material for further production. Unless the BSC succeeds in collecting the necessary volume of raw material, it will again have to cease its operation in a month, he said.

BSC ceased its activities due to the absence of raw materials at the beginning of 2007. The production capacity of BSC is 350,000 tons a year. In 2006 the production by BSC made up 300,000 tons.

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