TODAY.AZ / Business

2-week pause emerged in activity of Baku Steel Company to damage steel mill in amount of $1 million

19 January 2006 [03:32] - TODAY.AZ
The Baku Steel Company possesses enough reserve of armature for meeting the domestic demand during the 2-week pause emerged in activity of the steel mill.

As APA informs, the president of the Company saying that the halt of production will damage the mill in amount of $1 million noted that it will be compensated at the expense of increasing production in the following months: "Despite we work at a loss, no increase will occur in price of armature in the home market".

P.Perviz stressed that the Baku Steel Company had produced 330 thousand tons of product in 2005 and said that this indicator is intended to be increased to 400 thousand tons in 2006. $76 million have been invested in the mill since the beginning of activity of the organization. Volume of capital invested in the mill totaled $7.5 million last year and it is planned to invest $3.5 million more capital this year.

URL: http://www.today.az/news/business/22222.html

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