Azerbaijani companies interested in Iran’s steel industry

The Baku Steel company (Azerbaijan) is willing to invest in two steel projects on the territory of Iran. The problem will be discussed during the next visit of the company’s representatives to Iran.

These statements were made by the Iranian Minister of Industry, Mines and Trade, Mehdi Karbasian, according to Trend.

He mentioned that, in the near future, two delegations from Azerbaijan will visit Iran. One of these will include representatives of a private company. While the other will be made up of representatives of the ministry from Azerbaijan.

Iran has new steel projects

Iran intends to bring, soon, steel production to 50 million metric tons of steel per year. According to media reports. This country has rich deposits of iron ore. Having a share of iron oxide in primary ore at 50-55 percent. Iran also started building seven large metallurgical companies last year.

Azerbaijan is located between Asia and Europe, its neighbors are Russia to the north, Iran to the south, Georgia, Armenia and Turkey to the west.

BSC is the leader on the metallurgical market in Azerbaijan, being the first to be established on June 21, 2001. The company has produced more than 2.5 million tons of concrete steel over the 10 years since it has been operating.

The company also produces various grades of steel with sections of 100×100, 120×120, 125×125, 130×130, 140×140, 160×160 mm and 150×150, at a length of 3,000-12,000 mm, as well as rolled bars with a diameter of 10 -32 mm according to European standards. Apart from these, the range of products includes U profile, angles, double-T profiles and laminated wire manufactured in the following sizes, respectively: 80-160 mm, 40-125 mm, 100-160 mm and 5-9 mm.

The total steel manufacturing capacity by BSC can reach up to 1.1 million tons. BSC sells goods to Russia, Georgia, Turkmenistan and Iran.

Being on the list of producers in the non-oil sector in Azerbaijan. The BSC company is among the top taxpayers in the country.

Azerbaijan has a total of 246 million metric tons of iron ore reserves, of which 233 million metric tons are proven to have an iron oxide average of 43 percent.

Article source: http://www.azernews.az/business/88016.html