Baku Steel Company resumed production by 100%

According to the information given to APA from the press-service of the Company, flow of waste metal to the Company which has started its operation with enough raw material supplies continues. The Company is assisted by government and executive authorities in this direction as well.

It should be noted that the administration of the Baku Steel Company which had suspended its production for 2 weeks informed that armature supplies for only 10 days are left in their storage. It is also said that none of clients returned from the steel works without armature and no growth was registered in price of armature during the cease period. Repairs were conducted in the steel mill during these 2 weeks and it did not affect salaries of the employees.

It should be noted that the Baku Steel Company which has launched production since May, 2001 invested $76 million of capital in the enterprise so far. $7,5 million of it was invested last year and it is planned to invest $3,5 million more capital in 2006. Volume of output of the Company was 330 thousand tons last year and it is intended to increase this indicator to 400 thousand tons this year.