Azerbaijan, Baku / Trend corr I. Khalilova / The Azerbaijani-Russian AzRosPromInvest joint enterprise began running the second stage of the project on production and processing of bentonite clay in the Dash Salakhly field of Azerbaijani region of Gazakh on 1 June, the chairman of the Board of Directors of the enterprise, Natig Shirinzadeh, reported. The second stage will be completed by the end of 2007, the second by 10 May, 2008.
The opening ceremony of the plant was held this week with the participation of the Azerbaijani President, Ilham Aliyev. Currently, the enterprise is producing activated bentonite clay for metallurgical industrial complexes. Some 70,000 tons of the product are intended for Russian markets. After completion of construction work, the annual capacity of the plant will make up 250,000 tons. There are plans to process bentonite sand under the second stage for machine-building, car manufacturers, wine production and the oil and gas industry.
According to Shirinzadeh, investments to the project comprise $12mln. However, by the end of implementation, the statutory capital will be increased by $20mln. Initial investments into the enterprise have made up $2.9mln.
The Azerbaijani and Russian sides have intentions to invest in the project equally. The founders of the joint enterprise are the Bentonite scientific production association from the Russian side and Dash Salakhly Bentonite joint-stock company. The contract between the sides was signed for a 25 year term. "We have plans to supply markets with 7mln tons of bentonite clay," Shirinzadeh said.
Reserves of the Dash Salakhly field amount to 83mln tons. Implementation of the projects began on 1 November, 2006.