TODAY.AZ / Business

Baku Steel Company stopped its activity from January 16

17 January 2006 [05:36] - TODAY.AZ
The Baku Steel Company has stopped its activity from January 16 because of lack of raw materials.

As APA reports, the head of the press-service of the Company Namig Ahmadov told that the reason of company’s stopping its activity had been shortage of ferrous metal cuttings which are main raw materials: "There is a reserve of metal for the period more than 10 years in Azerbaijan, however some state structures providing the Company with metal cuttings refuse giving raw materials, even though we pay them superfluously. We also pay in advance in order to have the reserve of raw materials".

N.Ahmadov stressed that the administration of the Company had appealed to the government as far back as a week for solution of the problem and the Company had been given a promise that the problem will be solved: "Negotiations are currently on at a level of the prime-minister and Company’s restoring its activity depends just on the results of these negotiations".

It should be noted that metal cuttings were delivered to this Company which is the biggest armature producer of the country by such structures like "Azerenergy" JSC, "Azneft" Production Union, and SOCAR. The Baku Steel Company which has general power of 350 thousand tons general productive capacity fused approximately 1 million tons of metal cuttings during the past year.

Taking into consideration all above-mentioned it has to be stated that the process of leaving Azeri market by major companies is still continuing.

URL: http://www.today.az/news/business/22123.html

Print version

Views: 2194

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: