ECONOMY


CAMCE signs USD1.17bln contract with Azerbaijan

Baku, December 6, AZERTAC

China CAMC Engineering Co.,Ltd. announced on Wednesday that it signed a contract with an Azerbaijani steel company worth 1.17 billion U.S. dollars on a steel mill project in Ganja, Azerbaijan, Xinhua reported.

The amount of the contract accounts for 74.5 percent of the company's total operating income in 2017.

Under the agreement, the listed company will help the steel company build a new steel mill with the annual production capacity of 1.25 million metric tons (tonnes) of direct reduced iron and 700,000 tonnes of steel plate products.

Construction on the steel mill will need 42 months.

CAMCE, an incorporated company affiliated to China National Machinery Industry Corporation (SINOMACH), has completed dozens of large-scale turnkey projects and equipment export projects.

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