Azernews.Az

By Vusala Abbasova

Baku Steel Company is keen on investing in two projects in Iran’s steel industry. The issue will be discussed during the upcoming visit of the company's representatives to Iran.

These remarks were made by Iranian deputy minister of industry, mines, and trade, Mehdi Karbasian, according to Trend.

He noted that in the near future, two Azerbaijani delegations will visit Iran, one of which will include representatives of a private company, while the other one will consist of representatives of Azerbaijan’s Industry Ministry.

Karbasian met many Azerbaijani officials – Economy Minister Shahin Mustafayev, Minister of Emergency Situations Kamaladdin Heydarov, as well as the management of Baku Steel Company and other private companies – during his visit to Baku.

Iran soon intends to bring steel production to 50 million metric tons of steel a year, according to media reports. Iran has rich deposits of iron ore with a share of iron oxide in the primary ore at 50-55 percent. Iran began to build seven large metallurgical companies last year.

Being the first and leading steel company in the progressing metallurgical industry of Azerbaijan, BSC was established on June 21, 2001. The company has produced more than 2.5 million tons of construction rebar over the 10 years that it has been operating.

The Company also produces various steel grade billets with section cuts of 100x100, 120х120, 125x125, 130x130, 140x140, 150х150 and 160x160 mm at length of 3,000-12,000 mm, as well as meeting European standards on the construction of rolled rebar with diameter of 10-32 mm. Apart from this, the range of goods includes channels, angles, double-T, and rolled wire made from the following sizes, respectively: 80-160 mm, 40-125 mm, 100-160 mm, and 5-9 mm.

The total steelmaking capacity of BSC can reach up to 1.1 million tons. The BSC sells its goods to Russia, Georgia, Turkmenistan, and Iran.

Being on the list of non-oil sector manufacturers of Azerbaijan, BSC is among top tax-payers in the country.

Azerbaijan has a total 246 million metric tons of iron ore reserves, 233 million metric tons of which is proven reserves with an average grade of iron oxide at 43 percent.

The iron ore production volume in the country amounted to 89,600 metric tons in January-November 2014, according to the State Statistics Committee of Azerbaijan.

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