The 4th International "Central Asia and Transcaucasia Metal Market", which was held in Baku, the capital of Azerbaijan, on 18-19 April, brought together representatives of the sector. The conference focused on the future of the steel industry in the CIS region.
More than 20 speakers took part in the conference, which brought together representatives of 130 metallurgical and metal trading companies from the CIS countries. These speakers provided information on the development of metal markets in Armenia, Azerbaijan, Georgia, Uzbekistan, Kazakhstan, Tajikistan, Kyrgyzstan and Turkmenistan.
Deputy General Director of Baku Steel Askerov Sultan Fuad Oglu informed about the large-scale plans to increase pipe production and implement new investment strategies.
With the steady growth of the Azerbaijani economy, especially in the energy and construction sectors, Baku Steel Company expects the growth in demand for its products. This growth is estimated to be around 5 % per annum in the coming years. The company's current steel production capacity is 800 thousand tonnes per year.
As part of its new investment strategy, the company plans to triple its pipe production and expand its activities by launching ferroalloy production.
The international conference, which brings together representatives of metallurgical and metal trading companies from the CIS countries, will be a platform for discussing the development of metal markets in the region.
The two-day conference will end tomorrow (19 April).
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