ECONOMY


Azerbaijani President: This year we expect to set up large metallurgical complex

Baku, January 12, AZERTAC

“This year we expect to set up a large metallurgical complex. Work on this complex has been under way for some time now. Foreign consultants have been engaged. We can say that the feasibility study is now ready. We have natural resources and ore deposits,” said President Ilham Aliyev at a Cabinet meeting.

“We must strive to make the most of our natural resources to produce finished products on our own.”

“In every industry we should be able to produce finished products. This is a project that requires major public funds. Although our revenues will decline now, I believe that this project is a priority for the development of our industry and will help create thousands of jobs. Thus, Azerbaijan will have new products to export, and this will give a further impetus to the economic diversification and development of the non-oil sector. Therefore, there should be no delays in this project. This issue is reflected in the State Investment Program,” the President added.

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