BAKU, Azerbaijan, April 8. The draft of the "State program on the development of mining (metal ore) and metallurgical industry in Azerbaijan in 2027-2030" will be prepared within three months, TurkicWorld reports.
The relevant decree has been signed by Prime Minister Ali Asadov.
According to the decree, the Ministry of Economy, in coordination with the Ministry of Ecology and Natural Resources, the Ministry of Finance, Azerbaijan Investment Holding, AzerGold CJSC and other relevant state bodies (legal entities of the state) to be determined during the implementation process, must submit the said draft to the Cabinet of Ministers within three months.
According to the decree of the President of Azerbaijan "On a number of measures to ensure the development of the mining (metal ores) and metallurgical industry in Azerbaijan", the Cabinet of Ministers must ensure inclusion of the following measures in the state program to increase the production capacity of Azeraluminium LLC along the "raw material - processing - final product" value chain and expand export opportunities:
- completion of the electrolysis plant project and increasing the annual production capacity to 100 thousand tons by 2030, continuation of the aluminum rolling products production project and increasing the annual production capacity to 50,000 tons by 2030;
- identification of financing sources in accordance with the feasibility study prepared by the Azerbaijan Investment Holding and implementation of the construction of the calcination and anode baking plant together with the relevant state bodies (institutions)
In coordination with the Ministry of Finance, the Ministry of Economy must submit its proposals on financing the projects envisaged in the first paragraph above from the state budget and on the sources of financing and implementation of the project envisaged in the second paragraph above, in accordance with the feasibility study prepared by the Azerbaijan Investment Holding, to the Cabinet of Ministers.
The Ministry of Economy must submit its proposals on improving energy and transport tariffs, allocating additional land, if necessary, and meeting the demand for electricity, in order to increase the competitiveness of metallurgical products, in coordination with the Ministry of Finance, the Ministry of Digital Development and Transport, the Ministry of Energy, the Azerbaijan Investment Holding, Azerenergy OJSC and other relevant state bodies (legal entities of the state) to be determined during the implementation process to the Cabinet of Ministers.
In coordination with Azerbaijan Investment Holding and other relevant state bodies (state legal entities) to be determined during the implementation process, the Ministry of Finance must submit proposals on the cancellation of the payables of Azerbaijan Aluminum OJSC, as well as its debts to state organizations, the payment of which has been deferred for 25 years, as well as its debts to the Guarantee Fund for State Debt and Guarantee Obligations, and the termination of tax liabilities in accordance with the Tax Code to the Cabinet of Ministers.
This decree came into force on April 7.
