Japanese firm to assist Azerbaijan in establishing steel production complex
By Aynur Jafarova
The Japanese Marubeni Corporation will provide consulting services to Azerbaijan for establishing a steel production complex.
The relevant agreement was signed by Azerbaijan's Economy and Industry Ministry and the Japanese Marubeni Corporation.
Under the agreement, the Japanese company will primarily study the raw material base in the country, in particular, in the Ganja and Dashkasan mining fields, and also submit its proposals to Azerbaijan on how to apply advanced technologies in steel production.
Marubeni Corporation will analyze the local and regional market as well.
The diplomatic relations between Azerbaijan and Japan were established in 1992. Relations between the two countries continue developing. Japan was one of the first countries to support Azerbaijan's forward-looking oil strategy. Today two major Japanese companies Itochu and Impex are involved in the Contract of the Century. Leaders of Japanese business, Mitsubishi, Mitsui, Marubeni, and Sojits are involved in the energy and infrastructure projects in the country.
Azerbaijan considers cooperation with Japan in the field of high technology, particularly in the field of manufacture of innovative production, with their further entering the regional markets.
Until now, Japanese companies were involved mainly in projects in the energy sector, but in recent years their interest to cooperate in areas such as petrochemicals, oil refining, energy, medicine, high-tech and space industry has increased.