Investment company, British group agree to build steel foundry
The Azerbaijan Investment Company (AIC) and British Det.Al
Holding Ltd have committed to cooperation in building a steel
foundry in the country's second largest city, Ganja.
In a memorandum of understanding signed on the project, the sides
agreed to set up an operating company for the purpose, the AIC
said.
AIC's share in the venture will be determined after a business plan
is developed. In any case, it will not exceed 25 per cent.
The plant, with the annual output capacity of 1 million tons of
steel, will be constructed within a project being implemented in
Ganja by the Dashkasan Filizsaflashdirma ore refining company. The
project also envisions resuming production at the enterprise and
construction of two new facilities in Dashkasan and Ganja.
The Det.Al Ltd company, which is part of the London-based Det.Al
Holding Ltd, has lately won an investment tender for the purchase
of stock in Dashkasan Filizsaflashdirma.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!