A metallurgical complex will be built in Azerbaijan’s Sumgait city.
The volume of investments for the establishment of a metallurgical complex, consisting of five plants, in Azerbaijan is estimated at 1.225 billion euros, the Azerbaijani Economy Minister Shahin Mustafayev said.
The contract was signed by Chairman of Supervisory Board of Baku Steel Company Rasim Mammadov and Chairman and CEO of Danieli Group Gianpietro Benedetti.
“The construction of the complex is planned to be completed in three years. During the construction work, 4,000 new jobs will be opened as part of the project, and more than 1,200 permanent jobs will be created after commissioning of the complex,” Trend cited Mustafayev as saying.
The minister noted that a half of the complex’s products will be exported.
