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Publish Date : 12-Aug-2014

CJSC Azerbaijan Steel Production Complex (APIK) is expected to develop on the basis of Russian technologies and equipment. APIK stated that it inked a memorandum of understanding on cooperation with Electric Steel Heavy Engineering Plant (EZTM).

APIK said, "The Memo says of the use of EZTM capacity in the construction and development of the Azerbaijani complex. For realization of the Memorandum a workgroup of EZTM geologists and engineers was set up and has already started research work at Dashkesan Filizsaflashdyrma (Dashkesan Mining), which is part of APIK. Further implementation of certain projects of cooperation with EZTM will be carried out in accord with separate agreements”.

APIK chairman Samir Jafarov and EZTM’s CEO Vladimir Zarudni in Russia inked the Memo. APIK at that is prepared to assist with the Russian office of Italian company ATS. Close joint-stock company Azerbaijan Steel Production Complex, whose shares are possessed by the state, was established by Azerbaijani President’s Order #2875 from 23 April 2013.

The Company executes the design, construction and management of the steel producer complex in the territories of Ganja city and Dashkesan region. The complex covers all stages - from iron ore mining to steel production, the use of new technologies, modernization of material and technical base and its efficient use, as well as other activities connected to the development of the industry. The President ordered to comprise Dashkesan Filizsaflashdyrma OJSC (Dashkesan Mining), a state-owned company, in ASPC and transfer the right for its state-run shares and their management to the complex.

Registered capital of CJSC Azerbaijan Steel Production Complex (APIK) was declared at the level of AZN 2 million. President Ilham Aliyev this June ordered on the measures to make sure the activities of closed joint-stock company Azerbaijan Steel Production Complex (APIK). The Presidential Reserve Fund under the order allocated AZN 5 million to address organizational issues and improve the material and technical base of the Company.

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